Economic Diplomacy Takes Center Stage in Strengthening Pakistan-Bangladesh Relations
- Dhaka International Trade Fair: A Gateway for Industrial Collaborations and Innovation
- Bangladeshi Deputy High Commissioner Extends Support for Trade Promotion
- FPCCI Aims to Boost Bilateral Trade Volume to $3 Billion
- Learning from Bangladesh: Microfinance and SME Development for Economic Growth
- Pakistan-Bangladesh Business Forum to Foster B2B and Chamber-to-Chamber Engagements
- Unlocking Export Potential: Industries Ready for Collaboration and Growth
Karachi: In a bid to boost trade and economic relations between Pakistan and Bangladesh, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is sending a high-profile delegation of more than 35 exporters and business leaders to Bangladesh this week.
Mr. Atif Ikram Sheikh, President of FPCCI, announced that the delegation aims to achieve significant breakthroughs in fostering economic, commercial, and trade partnerships between the two countries. The visit will include meetings with key Bangladeshi officials, including Dr. Muhammad Yunus, Chief Advisor to the interim government of Bangladesh, and Sheikh Bashir Uddin, Commerce Advisor to the interim government.
Economic Diplomacy Over Political Challenges
Highlighting the importance of economic diplomacy, Mr. Sheikh said, “In today’s world, countries grow closer by creating economic interdependencies that lead to wealth and prosperity for their populations. This approach can help Pakistan achieve milestones that seem challenging through political diplomacy alone.”
The delegation’s visit is seen as a pivotal step in bridging gaps and exploring synergies between the two economies, which are inherently complementary. Mr. Sheikh emphasized opportunities for industrial collaborations, joint ventures, technology transfer, and B2B engagements.
Strategic Discussions with Bangladeshi Officials
H.E. Mahbubul Alam, Deputy High Commissioner of Bangladesh in Karachi, recently visited FPCCI’s Federation House to extend his support for the delegation’s visit. He assured swift visa facilitation for Pakistani businessmen and pledged to support initiatives that strengthen trade ties.
Exploring Opportunities at Dhaka International Trade Fair
The FPCCI delegation will attend the Dhaka International Trade Fair (DITF), a month-long event showcasing a diverse range of industries, including electronics, industrial machinery, ready-made garments, ceramics, leather, handicrafts, processed foods, and sports goods.
Mr. Saquib Fayaaz Magoon, Senior Vice President FPCCI, highlighted the importance of DITF in studying international trends and fostering cooperation. The delegation will also participate in the Pakistan-Bangladesh Business Forum, scheduled for January 13, 2025, organized by the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI).
Untapped Potential in Bilateral Trade
The current trade volume between Pakistan and Bangladesh is $800 million, but H.E. Mahbubul Alam expressed confidence that it could reach $2–3 billion within a few years by leveraging untapped export potential.
Mr. Aman Paracha, Vice President FPCCI, emphasized the socio-economic and cultural similarities between the two nations. He stated that Pakistan can learn from Bangladesh’s successful microfinance model for poverty alleviation and SME development. He added that the visit could open new doors for employment generation and women’s empowerment through economic collaboration.
A New Era of Collaboration
This delegation marks a significant step toward strengthening ties between Pakistan and Bangladesh. By actively engaging at high-level forums and trade fairs, the FPCCI aims to pave the way for sustainable economic growth and long-term partnerships between the two nations.
The visit underscores the potential of economic diplomacy to transcend political barriers and create opportunities for shared prosperity.