Staff Correspondent

Business leaders from Bangladesh and Pakistan have called for joint initiatives to boost trade, investment, and economic relations, focusing on unexplored opportunities between the two countries.

During a meeting held at a Dhaka hotel on Monday, representatives from both sides expressed their interest in pursuing joint ventures across various promising sectors, according to a media statement.

Organised by the Federation of Bangladesh Chambers of Commerce and Industry, or FBCCI, the meeting was attended by a business delegation from the Federation of Pakistan Chambers of Commerce and Industry, or FPCCI.

FBCCI Administrator Md Hafizur Rahman said: "Although trade between Bangladesh and Pakistan has shown steady growth in recent years, several potential sectors such as agriculture, textiles, pharmaceuticals, and ICT remain untapped. Joint ventures could significantly enhance trade between our nations."

Rahman emphasised the importance of leveraging regional platforms such as the South Asian Association for Regional Cooperation, or SAARC, and the Organisation of Islamic Cooperation, or OIC, to strengthen trade ties.

"There are ample opportunities for both countries to collaborate in areas like energy, education, technology, human resource development, research, and innovation to tackle the challenges posed by the Fourth Industrial Revolution," he added.

Rahman also suggested that the FBCCI and the FPCCI could jointly organise workshops, seminars, B2B meetings, and single-country trade fairs.

FPCCI President Atif Ikram Sheikh highlighted the substantial trade potential between the two countries, particularly in agriculture, pharmaceuticals, leather, machinery, chemicals, and ICT.

He stressed the need for enhancing regional connectivity and improving infrastructure, ports, and logistics to overcome existing challenges in bilateral trade.

FPCCI Senior Vice President Saquib Fayyaz Magoon noted that joint efforts in agriculture and the exchange of technological expertise could drive significant economic transformation.

The meeting concluded with the signing of a memorandum of understanding, or MoU, between FBCCI and FPCCI to establish a Joint Business Council, aimed at strengthening trade relations between Bangladesh and Pakistan.

Attendees included Mohammad Wasif, Pakistan’s deputy high commissioner to Bangladesh, Additional Secretary (Trade Wing) of the Ministry of Commerce Nazneen Kausar Chowdhury, former FBCCI director Gias Uddin Chowdhury, and FBCCI Secretary General Md Alamgir.