The High Commissioner of Bangladesh to Pakistan, Rahul Alam Siddique, has said that the bilateral trade between Pakistan and Bangladesh has been sharply increasing. The current trade volume between the two brotherly countries is likely to touch US$1 billion soon, which will be a major milestone. Hence, it is celebrated at the Bangladeshi High Commission in Islamabad and Deputy High Commission in Karachi.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce & Industry (KCCI), the Envoy said that the current bilateral trade volume between the two countries has increased to around $900 million and continues to rise at a faster pace. “Pakistan’s exports to Bangladesh have risen by 48 percent while Exports from Bangladesh to Pakistan appreciated by 14 percent, which is a good sign”, he said and hoped that the rising trend continues in the days to come, which will be very encouraging for the business communities of both countries.

Deputy High Commissioner of Bangladesh Mehboob Alam, General Secretary BMG AQ Khalil, Ex-officio KCCI Shariq Vohra, Former President KCCI Majyd Aziz, Former President Shamim Ahmed Firpo, KCCI Managing Committee Members and others were also present at the occasion.

Bangladeshi High Commissioner, while highlighting Bangladesh’s progress, development and achievements during the last 50 years of its existence, said that his developing country faced many challenges after its creation in 1971 when the forex reserves were zero, and the poverty level was over 82 percent. “During the last 50 years, Bangladesh achieved many goals under its Vision 2021 programme, and now the country’s total exports have crossed $50 billion. Bangladesh was number one country in jute production, second in readymade garments exports, 3rd in fish exports, 4th in rice production and tomato production in the world”, he said.

He further stated that Bangladesh had achieved the status of a developing country from its previous level of a least developed country. Bangladesh has also achieved remarkable progress in socio-economic sectors. It has been transformed into one of the vibrant economies of the world due to visionary leadership, resilient people and political stability.

General Secretary BMG AQ Khalil, in his remarks, appreciated the efforts being made by the Bangladeshi government towards improving trade and investment ties with Pakistan. He was of the view that Pakistan must learn from the history and experience of Bangladesh. “Bureaucratic hurdles were one of the most serious issues being suffered by Pakistan. Hence, we must learn how Bangladesh dealt with its bureaucracy and adopt the same strategy”, he added.

AQ Khalil further assured full cooperation to Bangladeshi High Commission in Islamabad and its Deputy High Commission in Karachi in all their endeavours to promote trade, investment and business ties between the two countries. “We have to make extraordinary and collective efforts to improve regional trade and investment cooperation by effectively utilizing the SAARC platform”, he stressed, adding that in today’s inflationary era, regional ties have to be given special attention to fulfil each other’s needs as improved regional ties were the only way to bring down the cost of doing business.

Former President KCCI Shariq Vohra, while welcoming the High Commissioner, stated that Bangladesh had excelled in economic growth. It was impressive that Bangladesh’s exports have risen to more than US$50 billion. It was number one in Jute production and the second largest country exporting readymade garments after China.

“Keeping in view the excellent performance of Bangladesh, we need to learn from our brotherly country’s experience on how they worked dedicatedly to attain an outstanding position”, he added.

CAPTION:

General Secretary Businessmen Group AQ Khalil and Ex-Officio Karachi Chamber of Commerce & Industry Shariq Vohra presenting crest to High Commissioner of Bangladesh to Pakistan, Rahul Alam Siddique, during his visit to KCCI. Deputy High Commissioner of Bangladesh Mehboob Alam, Former Presidents Majyd Aziz and Shamim Ahmed Firpo, along with KCCI Managing Committee Members and others, are also seen in the picture.