Pakistan's Commerce Minister Jam Kamal Khan paid a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI) in the capital on Thursday and held an interactive meeting with the DCCI President Taskeen Ahmed.
During the meeting, the DCCI president said that the people of both countries share many similarities in terms of culture, food, and lifestyle. He noted that Pakistan's textiles and jewellery products have significant demand in Bangladesh.
He added that Bangladesh's private sector has consistently urged the government to sign Free Trade Agreements (FTAs) with various potential countries to promote trade and investment. An FTA between Bangladesh and Pakistan would further expand bilateral trade, said a DCCI press release.
Direct passenger and cargo flights would enhance business connectivity between the two countries, he also mentioned.
Pakistan's federal minister for commerce, Jam Kamal Khan, said that both Bangladesh and Pakistan predominantly rely on the apparel and textile sectors for exports.
To strengthen the export sector, he emphasised the importance of diversifying exportable products.
Kamal pointed out that in Europe, Canada, and even the United States, there has been a recent surge in demand for reused clothing, which is gradually gaining popularity.
Entrepreneurs of both Pakistan and Bangladesh can collaborate to tap this huge market, he added.
The Pakistan's minister further said there is ample opportunity for both countries to work together in expanding exports to Africa, East Africa, and Central Asian countries. He also stated that both Pakistan and Bangladesh have large consumer markets that are yet to be fully explored.
The commerce minister noted that Pakistan has been performing well in the manufacturing of cement, sugar, footwear, and leather products. Hence, Bangladesh could consider importing these items from Pakistan.
He further highlighted that if both countries quickly adopt new technologies and enhance value addition in the agriculture sector, they would be able to tap into the billion-dollar global market.
He mentioned that a "Single Country Exhibition" of Pakistani products will soon be organised in Bangladesh, which will help strengthen bilateral relations between the private sectors of the two countries.
Pakistan's High Commissioner to Bangladesh Imran Haider, DCCI Senior Vice President Razeev H Chowdhury, Vice President Salem Sulaiman, members of the board of Directors and senior officials of the Pakistan High Commission in Bangladesh were also present at the meeting.
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