"Bangladesh-Pakistan Business Forum” held today at the DCCI. Photo: DCCI

DHAKA, Jan 14, 2025 (BSS) – Businesses of both Bangladesh and Pakistan today stressed the need for signing Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA) to harness the trade potentials.

Business leaders made the emphasis at the “Bangladesh-Pakistan Business Forum” held at the Dhaka Chamber of Commerce and Industry (DCCI) today in a bid to boosting bilateral trade and investment further. 

Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Atif Ikram led the Pakistani business delegation at the Forum held at the DCCI auditorium with DCCI President Taskeen Ahmed in the chair.

Welcoming the delegation, Taskeen said that the trade statistics between Bangladesh and Pakistan underscores the need for both progressing further and tapping the potentials. 
During FY2024, Bangladesh imported goods worth $627.8 million from Pakistan against the exports of $61.98 million. 

He also said that the bilateral trade volume is not up to the expected level since trade between these two nations faces significant challenges, including non-tariff barriers (NTBs) and tariff disparities, said a press release. 

Resuming direct flights between Dhaka and Karachi and introducing shipping routes would facilitate smoother trade, he added. 

Moreover, Taskeen said to unlock the full potentials of bilateral trade, both nations may consider signing a bilateral trade agreement like FTA or PTA.
 
“Sectors like agriculture, cement clinkers, leather goods, surgical instruments, chemicals, IT and public health management offer significant opportunities for joint initiatives,” he opined. 
FPCCI President Atif Ikram Sheikh said that despite huge potentials, bilateral trade is yet to reach the desired level. 

He said that about 55 percent of Pakistan's total exports to Bangladesh come from the textile and apparel sector, while the majority of Bangladesh's exports depend on the ready-made garment sector. 

“So, there is scope to add more new products to the import-export operations,”
Atif also urged the entrepreneurs of Bangladesh to import more agricultural products, rice, ceramics and other products from Pakistan. 

Moreover, he said Bangladesh has recently made great progress in the fields of information technology and mobile financing. “Especially in the fields of information technology, businessmen of the two countries can work on joint investment,”

He later urged the Bangladeshi exporters to use Pakistan as a corridor while exporting Bangladeshi products to other countries. 

The FPCCI President also mentioned that development of infrastructure in the logistic sector would expedite both exports and imports. 

Syed Ahmed Maroof, High Commissioner of Pakistan to Bangladesh, said that recently the shipment of goods between the two countries by sea has started and if such business operations continue, then bilateral trade would be able to reach $3 billion in the next 2 to 3 years.
 
DCCI Senior Vice President Razeev H. Chowdhury said that both countries have a large pool of young and innovative population which is very keen in IT sector.
 
To utilize this potential, he called upon Pakistani IT entrepreneurs to come to Bangladesh and invest in the Hi-tech Park here.
 
Senior Vice President of FPCCI Saqib Fayyaz Maggon also stressed on signing an FTA between these two countries. 

Moreover, he made a suggestion of popularizing tourism of both countries through joint collaboration. 

DCCI Director Saif Ud Dowlah also spoke on the occasion. Later a B2B match-making session among the Pakistan business delegation and members companies of DCCI was held. 

Nearly 100 member companies of DCCI participated in the B2B session. DCCI Vice President Md. Salim Solaiman and members of the Board of DCCI also attended the event.