The Deputy High Commissioner of Bangladesh for Sindh and Balochistan, S M Mahboob Al Alam, has extended an invitation to the business community of Sindh to explore opportunities in the rice and cotton sectors of his country.
Speaking at the office of Hyderabad Chamber of Commerce and Industry (HCCI) on Thursday, Alam highlighted Bangladesh's focus on rural development as part of its vision for 2041.
During the discussion, the diplomat shared various economic and developmental milestones achieved by Bangladesh, including a foreign exchange reserve of $40 billion and a rise in per capita income to $2,800.
He also emphasised the significant growth of higher education institutions, from just five universities five decades ago to the current count of 170.
Alam further informed the audience that Bangladesh's power generation capacity stands at 25,000 MegaWatts (MW). He extended an invitation to the HCCI to send a trade delegation to Bangladesh, with the aim of exploring investment opportunities. "We seek collaboration with Pakistan," he stated, acknowledging that European countries have shown a preference for Pakistani textile products.
Responding to the discussion, HCCI President, Adeel Siddiqui, pointed out that the trade balance between the two South Asian countries is in favour of Pakistan, which is a positive indication. He highlighted that Pakistan exports approximately $550 million worth of products to Bangladesh. Siddiqui also encouraged Bangladeshi investors to consider investing in Pakistan's energy sector, specifically mentioning the Chinese investments in indigenous coal-powered electricity generation in Tharparkar.
He believed that an increase in bilateral trade volume would be mutually beneficial for both countries.
Siddiqui further briefed the diplomat on Hyderabad's significance as an industrial, trade, and agricultural hub, as well as its role in the pulses industry, which processes raw pulses imported from Australia.
He suggested that Bangladeshi investors take advantage of Pakistan's automobile industry. Additionally, HCCI Diplomat Diplomatic Affairs Subcommittee Chairman, Hisam Iqbal Baig, requested the deputy high commissioner's assistance in expediting visa processing for traders based in Hyderabad.
Published in The Express Tribune, June 10th, 2023.
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