Concerted efforts needed to foster bilateral trade

FE REPORT

Businessmen of Bangladesh and Pakistan stressed the need for making combined efforts to enhance bilateral trade and investment for the mutual benefits of the two brotherly countries.

They also laid emphasis on discovering the unexplored potential in the two countries. The businessmen made the observations at Bangladesh-Pakistan Business Forum organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at a hotel in the capital on Monday.

Businessmen from the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and local businessmen participated in the forum.

FBCCI Administrator Md Hafizur Rahman, who presided over the forum, said that mutual trade between Bangladesh and Pakistan has witnessed a continuous growth during the last few years.

Agriculture, textiles, pharmaceuticals, information and communication technology (ICT) and some other sectors which have the potential are still unexplored, he said.

He emphasised the need for utilising South Asian Association for Regional Cooperation (SAARC) and Organisation of Islamic Cooperation (OIC) to strengthen the Bangladesh-Pakistan trade and business relations.

He noted that the two countries have the opportunities to work together intensively in energy, education, technology, human resources development, research and innovation sectors to face the challenges of the fourth industrial revolution.

The FBCCI and the FPCCI may jointly take programmes like workshops, seminars, business-to-business meetings and single country trade fairs for the sake of mutual interests, he said.

Speaking on the occasion, FPCCI President Atif Iqram Sheikh said Bangladesh and Pakistan have a huge potential for gearing up their mutual trade, businesses and investment.

He said that the two countries have the opportunities to work together in the sectors like agriculture, pharmaceuticals, tannery, machinery, chemical and information and communication technology (ICT).

Senior Vice-President of FPCCI Sakib Fayaz Magun said that it is possible to bring about positive changes to the economies of the two countries through exchange of technology.

Later, the FBCCI and the FPCCI signed a memorandum of understanding (MoU) to form a joint business council to boost Bangladesh-Pakistan trade activities.

Deputy High Commissioner of Pakistan to Bangladesh Mohammad Wasif, Additional Secretary of the Ministry of Commerce Najnin Kawser Chowdhury and Secretary General of the FBCCI Guasuddin Chowdhury Khokon as well as local businessmen attended the event.

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