Pakistan’s Commerce Minister Jam Kamal Khan is seeing the potential for development by overcoming the crisis in trade relations between Bangladesh and Pakistan. He said that it is possible to increase bilateral trade manifold through taking necessary steps and mutual cooperation between the two countries.
He said this at a discussion meeting with business leaders at the Motijheel office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Sunday (August 24).
The meeting discussed various aspects of trade, industry, food and investment cooperation between the two countries, an FBCCI press release said. It was chaired 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 visit, he said, various companies in Bangladesh build ships. Pakistan also has to import ships. There is an opportunity to work together here. In addition, the Pakistani Commerce Minister has seen an opportunity to import construction materials from Bangladesh. However, Jam Kamal Khan mentioned the importance of paying attention to trilateral trade relations as well as bilateral trade.
He said that working together in Bangladesh and Pakistan could create opportunities to capture the huge markets in 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), research on 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.
FBCCI Secretary General Md. Alamgir, Bangladesh CNG Machinery Importers Association President Zakir Hossain Nayon, former FBCCI directors Khandaker Ruhul Amin, Niaz Ali Chishti, representatives of Dhaka Metropolitan Chamber and various business leaders were present at the meeting.
