Leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) have emphasized on taking joint initiatives to tap into unexplored and new potentials to boost bilateral trade and investment.
The business leaders of both the countries expressed their eagerness to take joint initiatives in various prospective sectors at the "Bangladesh-Pakistan Business Forum" held late on Monday, said a FBCCI press release.
AT the forum FBCCI and FPCCI signed a memorandum of understanding (MoU) to form Pakistan-Bangladesh Joint Business Council (PBJBC) to strengthen, facilitate and enable trade between the two countries.
Held with FBCCI Administrator Md. Hafizur Rahman in the chair, the forum, the business leaders of both the countries emphasized on taking joint initiatives to tap into unexplored and new potentials to boost bilateral trade and investment.
In his welcome address, the FBCCI Administrator said although there has been a continuous growth in trade and commerce between Bangladesh and Pakistan over the years, but many potential sectors including agriculture, textiles, pharmaceuticals, ICT, remained unexplored.
"It's possible to increase trade and commerce between the two countries manifold through taking joint initiatives," he observed.
Md. Hafizur Rahman emphasized on utilizing the South Asian Association for Regional Cooperation (SAARC) and the Organization of Islamic Cooperation (OIC) to strengthen Bangladesh-Pakistan trade relations.
The FBCCI Administrator said that there is ample scope for the two countries to work closely in sectors such as energy, education, technology, human resources development, research and innovation to meet the challenges of the fourth industrial revolution. He opined that the FBCCI and FPCCI can jointly take initiative to organize various workshops, seminars, B2B meetings and 'Single Country Trade Fair' to this end.
Speaking on the occasion, FPCC President Atif Ikram Sheikh said that there is a huge trade potential between Bangladesh and Pakistan.
"There is an ample scope for the two countries to work together, especially in the agriculture, pharmaceuticals, leather, machinery, chemicals, and ICT sectors. In this regard, the facilities of regional connectivity can be utilized," he added.
Citing that there are few challenges in trade between the two countries, Atif emphasized on the development of infrastructures, ports, and logistics capacity.
FPCCI Senior Vice President Shakib Fayaz Magun, Pakistan Deputy High Commissioner in Dhaka, Mohammad Wasif, Additional Secretary (Commerce Wing) of the Ministry of Commerce, Nazneen Kawsar Chowdhury, former FBCCI Director Giasuddin Chowdhury (Khokon), FBCCI Secretary General Md. Alamgir, former FBCCI directors and other business leaders, and members of the FPCCI business delegation attended the meeting, among others.
Shakib Fayaz Magun, commented that it is possible to bring about a great change in the economy by working together in the agriculture sector and exchanging technological knowledge between the two countries.
