Dhaka: Bangladesh and Pakistan have agreed to revitalize the existing Joint Economic Commission (JEC) and establish a new Trade and Investment Commission to further explore the trade and investment potentials between the two countries. Commerce Adviser Sk. Bashir Uddin made this announcement during a press briefing following a meeting with Pakistan’s Federal Commerce Minister, Jam Kamal Khan, at the Bangladesh Secretariat.
According to Bangladesh Sangbad Sangstha, Sk. Bashir Uddin highlighted that the discussions between the two nations were extensive, covering a wide range of topics including trade, commerce, food, agriculture, and industrial production. These discussions aimed at enhancing the trade and economic capacities of both countries. The meeting also focused on cooperation in improving food and agricultural products, attracting joint venture or foreign direct investment in intermediary industrial goods, and the import-export dynamics of fruits and other goods.
Bashir emphasized that the talks included mutual acceptance of certificates and standards and sought Pakistan’s support in boosting Bangladesh’s leather and sugar industries. He also mentioned that Bangladesh requested Pakistan to withdraw the anti-dumping duty on hydrogen peroxide exports and restore duty-free quota-free access for exporting up to 1 crore kilograms of tea to Pakistan.
Commerce Adviser Bashir expressed that the formation of a new Trade and Investment Commission could significantly boost trade and commerce between Bangladesh and Pakistan. He noted that Bangladesh imports approximately $80 billion worth of commodities annually, including $15 billion in food items, and importing competitively from Pakistan could help save foreign currency.
During the meeting, Pakistan agreed with Bangladesh on various aspects and assured consideration of the discussed matters. Bashir reiterated that the interim government remains committed to protecting Bangladesh’s interests and upholding the country’s dignity.
Commerce Secretary Mahbubur Rahman added that the meeting was conducted in a cordial atmosphere, with emphasis on minimizing the existing trade gap. He stated that Bangladesh is open to increasing trade relations with Pakistan, including the import of food items, stones, and minerals, provided it is competitive and beneficial for both nations.
Rahman also noted that the Joint Economic Commission between the two countries had not been very active in recent years, and steps are being taken to revitalize it to improve bilateral trade relations.