A 35-member business delegation of Pakistan Chambers of Commerce and Industry (FPCCI) will visit Bangladesh in a week to enhance bilateral trade relations
The delegation led by FPCCI President Atif Ikram Sheikh will meet Bangladesh Chief Adviser Dr Muhammad Yunus and Commerce Adviser Sheikh Bashir Uddin, Pakistan's leading English daily Dawn, published from Karachi said in a report on Wednesday.
The Pakistani business community could achieve substantive milestones through economic diplomacy, which seems difficult vis-à-vis political diplomacy, Dawn cited Atif Ikram Sheikh as saying.
"Countries and the regions come closer in today's world through forging interdependencies that result in wealth creation and prosperity for their respective populations," he remarked.
Deputy High Commissioner of Bangladesh Mahbubul Alam held talks with the FPCCI leadership on Tuesday and discussed the activities and scope of the delegation's Bangladesh visit. He extended his full support in expeditious visa issuance and facilitation to genuine Pakistani businessmen for trade promotion activities, Dawn said..
Alam said that bilateral trade is a mere $800 million between the two countries, which can easily be increased to $2 billion to 3 billion within years if both countries can explore and realise the respective untapped export potential.
Sheikh explained that bilateral trade with Bangladesh can be enhanced quickly due to the complementary nature of our economies and major exports.
It will create a room for industrial collaborations, joint ventures, transfer of technology, business-to-business (B2B) and chamber-to-chamber engagements and collective trade promotion activities.
FPCCI Senior Vice-President Saquib Fayaaz Magoon said the delegation will also visit the Dhaka International Trade Fair (DITF) to explore avenues of cooperation besides participating in the Pakistan-Bangladesh Business Forum to be organised by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Jan 13.
He said electronics, cars, industrial machinery, carpets, toys, ceramics, sanitary products, handicrafts, fabrics, ready-made garments, leather, home appliances, processed foods, furniture, plastic goods, jute products, cosmetics, sports goods and jewellery are some of the major sectors that display their products at the month-long DITF.
In the last week of December 2024, Commerce Minister Jam Kamal stated that Bangladesh is also interested in Pakistani rice and vegetables, while flights between the two countries would also resume.
Commenting on this, Pakistan Fruits and Vegetables Merchants, Exporters and Importers Association Patron-in-Chief Waheed Ahmed told Dawn that after a political change, importers of Bangladesh have been continuously contacting local counterparts to enhance imports of Pakistani vegetables and fruits.
He stated that Bangladesh imports Indian onions when they are cheaper. "When the price of Indian onions rises, we anticipate receiving more export orders from Bangladesh," he mentioned.
He recalled that Pakistani onions had found their way into Bangladesh in 2024 when India had imposed an export ban. Onion exports were also made in 2022, while no shipments were made in 2023. However, the volume of exports was low, Dawn reported.
