Pakistan and Bangladesh Urged to Pursue FTA/PTA for Boosting Trade Relations

A Pakistani trade delegation, led by FPCCI

concluded a series of key meetings in Dhaka

with prominent organizations

Business Reporter

Dhaka: The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, has emphasized the urgent need for a Free Trade Agreement (FTA) or a Preferential Trade Agreement (PTA) between Pakistan and Bangladesh. He highlighted the immense untapped potential that could significantly boost bilateral trade and benefit both economies.

High-Profile Meetings Lay Groundwork

A Pakistani trade delegation, led by FPCCI, concluded a series of key meetings in Dhaka with prominent organizations, including the Dhaka Chamber of Commerce & Industry (DCCI) and the Export Promotion Bureau (EPB). A dinner hosted by Pakistan’s High Commissioner to Bangladesh, Syed Ahmed Maroof, was attended by influential figures, including Sheikh Bashiruddin, Advisor on Commerce to Bangladesh’s Interim Government.

Untapped Trade Potential

At DCCI, Atif Ikram Sheikh noted the bilateral trade volume between Pakistan and Bangladesh remained below $800 million in 2023-24. “This figure does not reflect the true potential of our combined population of over 450 million,” he said, urging both governments to expedite the negotiation of an FTA or PTA to achieve a trade target of $2–3 billion within the next few years.

Opportunities for Collaboration

The FPCCI delegation called for eased visa regimes, online visa processing, direct flights, and stronger business-to-business ties to facilitate trade. At the same event, FPCCI SVP Saquib Fayyaz Magoon highlighted the importance of joint ventures, industrial collaborations, and bilateral investments, while expressing satisfaction over substantial import orders for sugar and raw fabric from Bangladesh.

Bangladesh Invites Pakistani Investors

Anwar Hossain, Vice Chairman of EPB Bangladesh, extended an invitation to Pakistani industrialists and entrepreneurs to establish industries in Bangladesh. He assured full support, including land provision, infrastructure development, and utilities to boost investor confidence.

Strengthened Networking

Syed Ahmed Maroof, Pakistan’s High Commissioner, hosted a dinner to foster networking opportunities, attended by Bangladesh’s top businessmen and government representatives. Commerce Advisor Sheikh Bashiruddin assured preferential treatment for Pakistani exporters and products.

A New Era of Economic Growth

Concluding the visit, Atif Ikram Sheikh described the meetings as heralding a “new era of cooperation, economic growth, and prosperity” for Pakistan and Bangladesh.