Lahore: The High Commissioner of Bangladesh, Muhammad Iqbal Hussain Khan, announced a significant step towards strengthening Bangladesh-Pakistan relations by simplifying visa requirements for Pakistani citizens. This move aims to enhance bilateral trade and cultural exchanges, with further plans to introduce an e-visa facility soon.
During his visit to the Lahore Chamber of Commerce and Industry (LCCI), Khan underscored the importance of regular business delegations to explore new opportunities and deepen market understanding between the two nations.
LCCI's leadership, including Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry, and Honorary Consul General of Bangladesh Qazi Humayun Fareed, expressed commitment to deepening economic and commercial ties. The session was also attended by LCCI Executive Committee Members.
The High Commissioner highlighted potential trade sectors, noting Bangladesh's interest in exporting coconut and coal, while Pakistan could offer leather, meat, rice, sugar, fish, and coal. Discussions are ongoing to establish direct flights and shipping routes to enhance trade connectivity.
LCCI President Mian Abuzar Shad emphasized utilizing regional trade opportunities, pointing out that Bangladesh's GDP has reached $437 billion compared to Pakistan's $373 billion. Shad noted the current trade balance favors Pakistan, with a total bilateral trade volume of $718 million in 2023-24.
Shad believes consistent efforts could raise the trade volume to $2 billion or even $5-10 billion, seeing potential in pharmaceuticals, surgical instruments, sports goods, and auto parts. He also advocated for a Free Trade Agreement (FTA) given the favorable political and economic climate.
The LCCI President assured the High Commissioner of support in promoting trade and investment, appreciating Bangladesh's growing interest in defense cooperation with Pakistan. He highlighted a recent visit by a top Bangladeshi defense official as a significant development.
Shad requested the High Commission's assistance in facilitating an upcoming LCCI delegation to Sri Lanka and Bangladesh in July 2025, focusing on the textile, pharmaceutical, and rice sectors. Meetings with high-ranking officials and top business organizations in Bangladesh were sought to further this initiative.