Bangladesh welcomes accelerating trade with Pakistan

According to the Bilateral Bangladesh High Commissioner Ruhul Alam Siddique, trade between Pakistan and Bangladesh is swiftly accelerating and, by the end of this year, it is likely to cross the $1 billion mark.

On Thursday, while speaking to the business community at the Faisalabad Chamber of Commerce and Industry (FCCI), he also mentioned Pakistan’s importance to Bangladesh for trade, stressing on the need for the two countries to support, rather than compete with, each other.

720MW first hydropower project under CPEC starts generating power: PM

He showed his desire to work with Pakistan in the areas of textile, dairy and food processing, acknowledging that while there is no cotton production in Bangladesh, it is, certainly, “second in garment exports after China.”

Referring to Pakistanis employed in Bangladesh, he pointed out that there was still a need for manpower.

Pakistan, India share list of cross-border prisoners

He said that the success of Bangladesh and the region at large is interconnected and stressed on the need to begin reviving, both, SAARC (South Asian Association for Regional Cooperation) and SAFTA (South Asian Free Trade Area). He also informed that his country has signed just a single free trade agreement (FTA).

Ms. Marvel highlights Partition in latest episode

“We have some problems in signing FTA with Pakistan, but we must make collaborative efforts to overcome the emerging challenges,” Siddique announced, explaining his wish to replicate the links between Bangladesh and Karachi’s business community with Punjab’s business community as well.

According to FCCI President Atif Munir Sheikh, Pakistan’s exports to Bangladesh in 2021 were recorded at $815.6 million.

Stay tuned to BaaghiTV for more news and the latest updates!