Mr. Atif Ikram Sheikh, President of FPCCI, has apprised that the Pakistani trade delegation, led by FPCCI, participated in the Bangladesh – Pakistan Business Forum in Dhaka, which was organized by the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) on Monday.
In the meeting, FPCCI and FBCCI also signed a Memorandum of Understanding (MoU) to form the Pakistan—Bangladesh Joint Business Council (JBC), which will strengthen, facilitate, and enable trade between the two countries.
Mr Atif Ikram Sheikh added that diverse industries, sectors and verticals like electronics, cars, industrial machinery, carpets, toys, ceramics, sanitary products, handicrafts, fabrics, ready-made garments, leather, home appliances, processed foods, furniture, plastic goods, jute products, cosmetics, sports goods and jewellery, were represented in the business forum.
Mr. Muhammad Hafizur Rahman, Administrator of FBCCI, emphasized utilizing the South Asian Association for Regional Cooperation (SAARC) and the Organization of Islamic Cooperation (OIC) to strengthen Bangladesh–Pakistan trade relations.
Mr. Muhammad Hafizur Rahman said there is ample scope for the two countries to work closely in energy, education, technology, human resources development, research and innovation to meet the challenges of the fourth industrial revolution.
In other high-profile engagements, Mr. Atif Ikram Sheikh informed that the delegation had a productive meeting with Sheikh Bashiruddin, Advisor / Minister for Commerce, Bangladesh, a day earlier – in which he expressed his government’s intent to facilitate Pakistani exporters and Pakistani products. He added that the Bangladesh government has already relaxed visa requirements for Pakistani nationals, and Pakistan has also done the same.
FPCCI Chief highlighted that the Pakistani trade delegation also had high-profile meetings with the Bangladesh Investment Development Authority (BIDA) and the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI). He added that we have discussed collective trade promotion activities, the exchange of delegations, and single-country exhibitions.
Mr. Atif Ikram Sheikh noted that the Pakistani exporters have received an initial order of 25,000 metric tonnes of sugar. Raw fabric demand from Bangladesh is so sizeable that there is a dearth of the same in Faisalabad. These are great omens, and it is just the beginning, he added.
Mr Saquib Fayyaz Magoon, SVP FPCCI, stressed that the business, industry and trade community of Pakistan could achieve substantive milestones for Pakistan through economic diplomacy, which seems to be difficult vis-à-vis political diplomacy. That is how nations and regions come closer in today’s world through forging interdependencies that create wealth and prosperity for their respective populations.
Mr. Magoon added that the delegation will also visit the Dhaka International Trade Fair (DITF) to explore avenues of cooperation and study international trends in various established and emerging industries.
