Trade relations key to future Pakistan-Bangladesh diplomacy
In 2021, trade between the two countries was valued at around $1 billion
Pakistan's High Commissioner to Bangladesh, Syed Ahmed Maroof, emphasised that trade will be a cornerstone of future Pakistan-Bangladesh relations, fostering not only economic growth but also strengthening political and cultural ties between the two nations.
"Trade will not only strengthen our economic positions but will also contribute to greater political and cultural connections. Our trade relations will be a key pillar of Pakistan-Bangladesh diplomacy in the years to come," he said.
He made these remarks while addressing the Bay of Bengal Conversation, organised by the Center for Governance Studies, at the Pan Pacific Sonargaon Hotel yesterday.
Keep updated, follow The Business Standard's Google news channel
Highlighting recent positive developments, Maroof said that Pakistani consignments are no longer subject to 100% inspection at Bangladeshi ports, providing significant incentives for Pakistani businesses.
Shipments from Karachi to Chattogram now take only 10 days, citing the recent successful arrival of goods on November 11 as an example of progress. These steps will further bolster trade between the two countries.
The High Commissioner further pointed out that while bilateral trade has grown, the current figures still fall short of its true potential.
"In 2021, Pakistan-Bangladesh trade was valued at around $1 billion. However, given the combined economic size of the two nations, he believes this figure should be much higher."
He further emphasised that with the right political will, improved trade facilitation, and a renewed focus on economic diplomacy, both countries could substantially increase trade and explore new areas for cooperation, particularly in textiles, agriculture, energy, and technology.
The future of Pakistan-Bangladesh relations hinges on transforming the economic potential of their bilateral ties into tangible, long-term outcomes, he added.
