Bangladesh eases visa process for Pakistanis

High commissioner stresses untapped potential in bilateral trade, says move will improve trade potential

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LAHORE:

The Bangladeshi government has simplified its visa process for Pakistanis to strengthen economic and trade relations, said Bangladesh's High Commissioner to Pakistan, Iqbal Hussain Khan, during a meeting at the Lahore Chamber of Commerce and Industry (LCCI) on Saturday.

LCCI President Mian Abuzar Shad welcomed the High Commissioner, highlighting the need to increase two-way trade, which stood at $718 million in FY2023-24. Pakistan's exports to Bangladesh accounted for $661 million, while imports were $57 million. In the first five months of FY2024-25, exports to Bangladesh rose to $314 million, with imports remaining low at $31 million.

Highlighting the need for economic collaboration, the high commissioner stated that Bangladesh's population of 180 million presents a significant market for Pakistani goods. He identified key sectors for trade expansion, including information technology, pharmaceuticals, rice, surgical instruments, and automotive parts.

Hussain called for greater regional cooperation, urging the revitalisation of the South Asian Association for Regional Cooperation (SAARC). "It is the responsibility of both countries to create opportunities for the next generation and remove trade barriers," he said, stressing the importance of regular business delegations to explore untapped potential. Dr Muhammad Yunus, Chief Advisor to Bangladesh's interim government, has also been advocating regional cooperation to address challenges in South Asia, he added.

Mian Abuzar Shad expressed optimism about achieving $2 billion in bilateral trade, urging both governments and private sectors to take decisive steps. He noted that Pakistan's major exports to Bangladesh include cotton fabric, yarn, and cement, while jute remains the primary import from Bangladesh. Separately, in Karachi, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) welcomed the inauguration of a visa section for Tajikistan. Malik Khuda Baksh, of FPCCI, underscored that this move would facilitate business, tourism, and technological exchanges between the two nations, boosting bilateral ties and regional prosperity.