Pakistan seeks Bangladesh support to join NDB

Pakistan has sought Bangladesh's support in its efforts to gain membership of the New Development Bank (NDB), a multilateral financial institution established by BRICS member-countries.

The request was made in a letter from Pakistan's Minister for Economic Affairs, Ahad Khan Cheema, addressed to Finance Adviser Salehuddin Ahmed. 

The letter, seen by The Business Standard, was forwarded by the Pakistan High Commission in Dhaka to the Economic Relations Division (ERD) and the Ministry of Foreign Affairs on 1 January.

A senior ERD official, speaking on condition of anonymity, told TBS that such requests should have been directed to the founding member countries of BRICS.

The bank was established following a decision made at the fifth BRICS summit in March 2013, where Brazil, Russia, India, China and South Africa agreed to form the institution, according to the NDB website. 

Bangladesh became a member of the bank in September 2021, followed by the UAE in October of the same year. Egypt joined in February 2023, while Uruguay is also listed as a potential member. The bank has kept its membership open to all UN member states.

These five countries are the founding members of the bank, which officially began operations in 2015, with its headquarters located in Shanghai, China. The main objective of the bank is to invest in infrastructure development and sustainable growth in member countries.

Since the interim government took office on 8 August last year, political, diplomatic, and trade relations between Bangladesh and Pakistan have strengthened. 

On 2 September last year, Pakistan's High Commissioner to Bangladesh, Syed Ahmad Maroof, announced that Bangladeshi citizens would no longer have to pay a visa fee to visit Pakistan, in line with Pakistan's new visa policy.

Recently, two container ships carrying goods directly from Karachi arrived at Chattogram port, marking the first time since Bangladesh's liberation that direct shipping between the two countries has occurred.

Trade between the two countries has also increased in recent months. Pakistani representatives from various organizations have been visiting Bangladesh regularly. 

On 6 January, a Pakistani delegation met food ministry officials to discuss the export of 50,000 tonnes of rice to Bangladesh.

On 10 January, a 24-member delegation from the Federation of Pakistan Chambers of Commerce and Industry is expected to visit Bangladesh. The visit is in response to an invitation from the Federation of Bangladesh Chambers of Commerce and Industries.

The delegation is expected to meet key figures, including Chief Adviser Muhammad Yunus, Commerce Adviser Sheikh Bashir Uddin, Executive Chairman of the Bangladesh Investment Development Authority Chowdhury Ashik Mahmud Bin Harun and Vice Chairman of the Export Promotion Bureau Anwar Hossain.

After Bangladesh gained independence from Pakistan in the 1971 Liberation War, the two countries have maintained a presence in various international forums but had not fostered a warm bilateral relationship in terms of cooperation.