Pakistan’s Federal Minister for Commerce Jam Kamal Khan said both Bangladesh and Pakistan predominantly rely on the apparel and textile sectors for exports. To strengthen the export sector, he emphasised the importance of diversifying exportable products.
Kamal pointed out that in Europe, Canada, and even the United States, there has been a recent surge in demand for reused clothing, which is gradually gaining popularity. Entrepreneurs of both Pakistan and Bangladesh can collaborate to tap this huge market, he added.
He made these remarks while paying a courtesy visit to Dhaka Chamber of Commerce & Industry (DCCI) in the capital on Thursday. He also held an interactive meeting with DCCI President Taskeen Ahmed.
During the meeting, DCCI President Taskeen Ahmed said that the people of both countries share many similarities in terms of culture, food, and lifestyle. He noted that Pakistan’s textiles and jewelry products have significant demand in Bangladesh.
He added that Bangladesh’s private sector has consistently urged the government to sign Free Trade Agreements (FTAs) with various potential countries to promote trade and investment.
Ahmed also mentioned that direct passenger and cargo flights would enhance business connectivity between the two countries. Moreover, an FTA between Bangladesh and Pakistan would further expand bilateral trade, read a DCCI press release.
The Pakistan minister Jam Kamal Khan further said, “There is ample opportunity for both countries to work together in expanding exports to Africa, East Africa, and Central Asian countries. Both Pakistan and Bangladesh have large consumer markets that are yet to be fully explored.
“The commerce minister noted that Pakistan has been performing well in the manufacturing of cement, sugar, footwear, and leather products. Hence, Bangladesh could consider importing these items from Pakistan.”
He further highlighted that if both countries quickly adopt new technologies and enhance value addition in the agriculture sector, they would be able to tap into the billion-dollar global market.
He mentioned that a ‘Single Country Exhibition’ of Pakistani products will soon be organized in Bangladesh, which will help strengthen bilateral relations between the private sectors of the two countries.
Pakistan’s High Commissioner to Bangladesh Imran Haider, DCCI Senior Vice President Razeev H Chowdhury, Vice President Md Salem Sulaiman, members of the board of Directors and senior officials of the Pakistan High Commission in Bangladesh were also present at the meeting.