Mr. Atif Ikram Sheikh, President of FPCCI, has informed that the organization is taking a prominent multi-sectoral exporters’ delegation to Bangladesh this week to strive for a breakthrough in economic, commercial, and trade relations between the two countries. The delegation looks forward to meeting Dr Muhammad Yunus, Chief Advisor to the interim government of Bangladesh, and Sheikh Bashir Uddin, commerce advisor to the interim government.
Mr. Atif Ikram Sheikh stressed that Pakistan’s business, industry, and trade community can achieve substantive milestones through economic diplomacy, which seems more difficult vis-à-vis political diplomacy. In today’s world, economic diplomacy is how countries and regions come closer by forging interdependencies that create wealth and prosperity for their respective populations. He added that the delegation would comprise more than 35 businessmen across diverse industries.
It is pertinent to note that H. E. Mahbubul Alam, Deputy High Commissioner of Bangladesh in Karachi, visited the Federation House to brainstorm and discuss the activities and scope of the FPCCI delegation’s Bangladesh visit. He extended his full support in expeditious visa issuance and facilitation to genuine Pakistani businessmen for trade promotion activities. Mr. Zaki Aijaz, Regional Chairman & VP of FPCCI and Mr. Asif Sakhi, VP of FPCCI, will also be a part of the delegation.
Mr. Atif Ikram Sheikh explained that Bangladesh is one country where bilateral trade can be enhanced quickly due to the complementary nature of our economies and major exports. He added that this creates room for industrial collaborations, joint ventures, technology transfers, B2B and chamber-to-chamber engagements, and collective trade promotion activities.
Mr Saquib Fayaaz Magoon, SVP of FPCCI, informed that the FPCCI delegation will also visit the Dhaka International Trade Fair (DITF) on January 13, 2025, to explore avenues of cooperation and study international trends in various established and emerging industries. The delegation will also participate in the Pakistan—Bangladesh Business Forum organized by the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) next week in Dhaka.
Mr. Magoon added that 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 are some of the major sectors that display their products at the month-long Dhaka International Trade Fair (DITF).
H. E. Mahbubul Alam, Deputy High Commissioner of Bangladesh in Karachi, stated that bilateral trade is merely $800 million between the two countries, and it can easily be increased to $2 – 3 billion within years if we can explore and realize untapped export potential in our respective counterpart countries.
Mr. Aman Paracha, VP of FPCCI, elaborated that, due to their socio-economic and religious similarities, bilateral relations between Pakistan and Bangladesh are bound to grow. Pakistan has much to learn from Bangladesh’s microfinance model for poverty alleviation, which creates an enabling environment for cottage industries and SMEs, employment generation, and women’s emancipation.
