A Memorandum of Understanding signed
between FPCCI and FBCCI to establish
the Pakistan-Bangladesh Joint Business Council
Business Reporter
Karachi: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), announced that a Pakistani trade delegation, led by FPCCI, participated in the Bangladesh-Pakistan Business Forum in Dhaka on Monday. The forum, organized by the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI), featured high-level discussions aimed at boosting bilateral trade.
A key highlight of the event was the signing of a Memorandum of Understanding (MoU) between FPCCI and FBCCI to establish the Pakistan-Bangladesh Joint Business Council (JBC). This initiative aims to strengthen and facilitate trade between the two nations.
The business forum featured diverse industries, including electronics, cars, machinery, carpets, textiles, home appliances, and processed foods, with representatives from various sectors actively participating.
In his remarks, Mr. Muhammad Hafizur Rahman, Administrator of FBCCI, stressed the importance of leveraging regional organizations such as SAARC and OIC to enhance trade relations between Pakistan and Bangladesh. He highlighted the potential for collaboration in energy, education, technology, human resources, and innovation.
The delegation also held productive discussions with Sheikh Bashiruddin, Advisor/Minister for Commerce in Bangladesh, who expressed his government’s commitment to supporting Pakistani exports. Additionally, the governments of Bangladesh and Pakistan have eased visa requirements for each other’s nationals.
FPCCI President Atif Ikram Sheikh shared that the Pakistani delegation received initial orders for 25,000 metric tonnes of sugar, and the demand for raw fabric from Bangladesh is expected to drive further collaboration.
Mr. Saquib Fayyaz Magoon, Senior Vice President of FPCCI, emphasized that economic diplomacy is key to achieving significant milestones for Pakistan. He pointed out that the business community has the potential to foster interdependence and prosperity through trade initiatives.
The delegation also plans to visit the Dhaka International Trade Fair (DITF) to explore new cooperation opportunities and examine emerging global industry trends.
