Pakistan Trade Delegation Aims to Strengthen Economic Ties with Bangladesh

FLASHNEWS:

KSE-100 Index Surges as Government Secures International Financial Support

VIS Upgrades FFBL Power Company Limited’s Rating Amid Strong Financial Performance

PACRA Assigns Strong Ratings to A. Rahim Foods Reflecting Robust Market Position

PACRA Maintains AAA Rating for WAPDA Dasu TFC-E

PACRA Reaffirms AAA Rating for WAPDA Dasu Sukuk-E

Business

Pakistan Trade Delegation Aims to Strengthen Economic Ties with Bangladesh

January 7, 2025

Karachi: A multi-sectoral exporters' delegation from Pakistan is set to visit Bangladesh this week, with the aim of enhancing economic, commercial, and trade relations between the two countries. Led by Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the delegation plans to engage in high-profile meetings with key figures in Bangladesh's interim government, including Dr. Muhammad Yunus, Chief Advisor, and Sheikh Bashir Uddin, Commerce Advisor.

According to Federation of Pakistan Chambers of Commerce and Industry, the delegation, which includes over 35 businessmen from various industries, seeks to achieve significant progress through economic diplomacy. Mr. Atif Ikram Sheikh emphasized the importance of creating interdependencies to foster wealth and prosperity, noting that such economic collaborations can bridge gaps that political diplomacy may not. The visit has received support from H. E. Mahbubul Alam, Deputy High Commissioner of Bangladesh in Karachi, who has pledged assistance in facilitating visa processes for the delegation.

The FPCCI sees Bangladesh as a country with which Pakistan can quickly enhance bilateral trade due to the complementary nature of their economies. Mr. Saquib Fayaaz Magoon, Senior Vice President of FPCCI, highlighted the delegation's plans to attend the Dhaka International Trade Fair and participate in the Pakistan-Bangladesh Business Forum, in collaboration with the Federation of Bangladesh Chambers of Commerce and Industries. The fair will feature a range of sectors, including electronics, cars, industrial machinery, and textiles.

Mr. Aman Paracha, Vice President of FPCCI, expressed optimism about the potential growth in bilateral trade, which currently stands at $800 million. He pointed out the socio-economic and religious similarities between the two countries as a foundation for strengthening ties, while also noting the potential for Pakistan to learn from Bangladesh's microfinance model to support poverty alleviation and economic development.