Press Release: Pakistan’s Minister for Commerce Mr. Jam Kamal Khan and Bangladesh’s Adviser for Commerce Mr. Sk. Bashir Uddin, held in depth discussions in Dhaka today to advance economic cooperation, mutual investments and strengthen bilateral trade ties.
Pakistan High Commissioner to Bangladesh, Mr. Imran Haider was also present during the meeting.
The two countries are in the process of establishing a Joint Working Group on Trade to enhance the economic ties and foster greater cooperation in trade between the two countries. Both sides agreed to re-activate the Joint Economic Commission (JEC) forum to work out a comprehensive strategy for promoting trade, investment and economic collaborations. Last meeting of the JEC was held in 2005. It was also agreed to form a Joint Trade Commission, which would present a roadmap for building on the existing bi-lateral trade relations, set goals for future commercial ties and define steps to achieve those targets.
The Minister and Adviser discussed sectors including agricultural modernization, renewable energy, steel industry, green ship breaking, ship building, dates, minerals, construction aggregates, halal trade, sugar, leather, rice, dehydrated fruits and agro-processing. It was noted that connectivity and logistics for trade should and improved and economised for cost cutting.
Matter related to reduction of tariffs and duties and preferential access to certain Bangladeshi products to Pakistani market also came under discussion.
Both sides underscored that there was a vast untapped potential of bilateral trade and people of our two countries were all set to benefit from this those opportunities. The two Governments should build on the existing momentum and swiftly move for creating a more conducive environment.