FBCCI meeting with Pakistan’s Commerce Minister ,Bangladesh-Pakistan trade relations to be strengthened

Pakistan’s Commerce Minister Jam Kamal Khan sees the potential for development after overcoming the crisis in trade relations between Bangladesh and Pakistan. He believes that it is possible to increase bilateral trade manifold through taking necessary steps and mutual cooperation between the two countries.

A discussion meeting was organized at the Motijheel office of FBCCI on Sunday afternoon with visiting Pakistani Commerce Minister Jam Kamal Khan and business leaders. Various aspects of trade, industry, food and investment cooperation between the two countries were discussed at the meeting. The meeting was presided over by FBCCI Administrator Md. Hafizur Rahman.

At the meeting, Pakistan’s Commerce Minister Jam Kamal Khan said that both countries are currently in a positive position to develop relations between Bangladesh and Pakistan. There is also considerable interest among businessmen. There are opportunities to increase trade in many sectors including tourism, culture, shipbuilding, construction, ICT, etc. He said that sector-wise delegations from Pakistan will visit Bangladesh in phases to identify potential sectors in Bangladesh.

Referring to his experience of visiting the port city of Chittagong in Bangladesh during his ongoing tour, he said, “Various companies in Bangladesh build ships. Pakistan also has to import ships. There is an opportunity to work together here. Moreover, the Pakistani Commerce Minister has seen an opportunity to import construction materials from Bangladesh.”

However, Jam Kamal Khan stressed the importance of focusing on trilateral trade relations in addition to bilateral trade. He said that if Bangladesh and Pakistan work together, there could be opportunities to tap into the huge markets of Africa and Central Asia.

Earlier, in the president’s speech, FBCCI Administrator Md. Hafizur Rahman said that although there is a trade deficit between Bangladesh and Pakistan, the economic relations of the two countries are gradually strengthening through mutual cooperation. There is more potential for mutual cooperation in trade, investment and technology. The two countries will have to work together to explore new opportunities to increase mutual development and potential. In particular, joint cooperation in promoting Public Private Partnership (PPP), advance research in bilateral FTAs, joint research and development, ICT, agri-food processing, MSME, startup ecosystem, tourism, fintech, high value chain, textile, jute, consumer goods, light engineering, automobile, logistics, services, etc., and work together in the digital economy.

Md. Hafizur Rahman said that FBCCI is ready to organize meetings and seminars with entrepreneurs from both countries to increase business contacts between Bangladesh and Pakistan.

At the meeting, FBCCI Secretary General Md. Alamgir said, the private sector and businessmen have a huge contribution to the economy of Bangladesh. The business community plays a role in formulating all kinds of economic policies, big and small. Steps must be taken now to strengthen relations between Bangladesh and Pakistan at the individual and business levels. It is important to exchange delegations to identify the trade potential of the two countries and increase import and export. For this, he called for visa facilitation between the two countries.

Bangladesh CNG Machinery Importers Association President Zakir Hossain Nayan, former FBCCI director Khandaker Ruhul Amin, Niaz Ali Chishti, representatives of Dhaka Metropolitan Chamber and various business leaders also spoke at the meeting. The speakers emphasized the introduction of a Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA) between the two countries, and the import of tea and jute products from Pakistan from Bangladesh as before.

Among others present at the meeting were former FBCCI directors Giasuddin Chowdhury Khokon, Abul Hossain, Abu Hossain Bhuiyan (Ranu), FBCCI International Wing Head Md. Zafar Iqbal ndc, FBCCI Safety Council Advisor Brigadier General (Retd) Abu Naeem Md. Shahidullah, Trade and Investment Attaché of Pakistan High Commission in Dhaka Zain Aziz, among others.