Pakistan eagre to boost bilateral trade with Bangladesh
Federal Minister for Commerce of Pakistan Jam Kamal Khan has said both Bangladesh and Pakistan predominantly rely on the apparel and textile sectors in terms of export, underscoring the importance of diversification of exportable products to have strength in export sector.
Jam Kamal Khan said this when he paid a courtesy visit to Dhaka Chamber of Commerce and Industry (DCCI) and had an interactive meeting with the President of DCCI Taskeen Ahmed on Thursday, August 21.
He pointed out that in Europe, Canada even in the United States, recently a demand of re-used cloths has surged a lot and it is getting popularity gradually. Entrepreneurs of both Pakistan and Bangladesh can collaborate to tap this huge market.
He further said that there is an ample opportunity for both countries to work together in expanding exports to Africa, East Africa and Central Asian countries. He later said that both Pakistan and Bangladesh itself have a large consumer market to explore.
Jam Kamal also noted that Pakistan has been performing well in manufacturing cement, sugar, footwear, and leather sector, hence Bangladesh could consider importing these products from Pakistan.
He also said that Bangladesh has been excelled in the pharmaceutical sector in recent past and exchange of Bangladesh’s expertise with Pakistan especially in this sector would help a lot to grow the same sector in Pakistan.
He highlighted that if both countries quickly adopt new technologies and enhance value addition in the agriculture sector, Bangladesh and Pakistan would be able to tap the billion-dollar global market.
He stated that a ‘Single Country Exhibition’ of Pakistani products will soon be organised in Bangladesh, which will help strengthen bilateral relation between the private sectors of the two countries.
During the meeting, DCCI President Taskeen Ahmed said that people of both countries share many similarities in terms of culture, food and lifestyle. Particularly Pakistan’s textiles and jewelry products have a great demand in Bangladesh.
He added that Bangladesh’s private sector has consistently urged the government to sign Free Trade Agreements (FTAs) with different potential countries to promote trade and investment, and an FTA between Bangladesh and Pakistan would further expand bilateral trade, he added.
Direct passenger and cargo flights would enhance business connectivity between the two countries, he also mentioned.
Pakistan’s High Commissioner to Bangladesh Imran Haider, DCCI Senior Vice President Razeev H Chowdhury, Vice President Md. Salem Sulaiman, members of the board of Directors and senior officials of the Pakistan High Commission in Bangladesh were also present during the meeting.