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International trade

Pakistan Seeks to Boost Bilateral Trade with Bangladesh

Strategic Insights

— 1 min read

A meeting between Pakistan's Federal Minister for Commerce, Jam Kamal Khan, and Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed at the DCCI office in Dhaka has highlighted the potential for increased cooperation between the two countries. With both nations heavily reliant on apparel and textile exports, the minister emphasized the need to diversify products to access new markets. He also suggested that entrepreneurs from both countries could collaborate to explore the growing demand for re-used clothes in Europe, Canada, and the United States. The Pakistan minister further proposed that Bangladesh could import cement, sugar, footwear, and leather from Pakistan, while Pakistan could benefit from Bangladesh's pharmaceutical expertise.

Key Takeaways:

  • Pakistan's Federal Minister for Commerce, Jam Kamal Khan, expressed interest in boosting bilateral trade with Bangladesh, highlighting opportunities for closer economic cooperation between the two countries.
  • Both Pakistan and Bangladesh rely heavily on apparel and textile exports, and the minister stressed the need to diversify products to access new markets.
  • The minister suggested that entrepreneurs from both countries could collaborate to explore the growing demand for re-used clothes in Europe, Canada, and the United States.
  • Bangladesh could import cement, sugar, footwear, and leather from Pakistan, while Pakistan could benefit from Bangladesh's pharmaceutical expertise.
  • The Pakistan minister proposed organizing a single-country exhibition of Pakistani products in Bangladesh to strengthen private sector ties between the two nations.
  • DCCI President Taskeen Ahmed reiterated the private sector's call for a Free Trade Agreement (FTA) with Pakistan to further expand bilateral trade.
  • The meeting discussed the potential for direct passenger and cargo flights between the two countries to enhance business connectivity.

Statistics:

  • 50% of Pakistan's exports are textiles and apparel (Source: Pakistan Ministry of Commerce)
  • 75% of Bangladesh's exports are also textiles and apparel (Source: Bangladesh Ministry of Commerce)

Sources:

  • Pakistan's Federal Minister for Commerce Jam Kamal Khan
  • Dhaka Chamber of Commerce and Industry (DCCI) President Taskeen Ahmed
  • Pakistan 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

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