Bangladesh High Commissioner Muhammad Iqbal Hussain Khan has said that Bangladesh has recently simplified visa requirements for Pakistani citizens to encourage bilateral trade and cultural exchanges. He said that work is also underway to introduce an e-visa facility for Pakistani nationals in the near future.
During his visit to the Lahore Chamber of Commerce and Industry (LCCI), the high commissioner highlighted the importance of regular business delegation exchanges to explore new opportunities and deepen market understanding between the two countries.
LCCI Senior Vice President Engineer Khalid Usman, Vice President Shahid Nazir Chaudhry and Honorary Consul General of Bangladesh Qazi Humayun Fareed also addressed the session and pledged to further deepen economic and commercial relations between the two nations.
Highlighting Bangladesh's interest in expanding economic ties, the high commissioner mentioned potential trade sectors including coconut and coal from Bangladesh and leather, meat, rice, sugar, fish and coal from Pakistan. He disclosed that direct flights and shipping routes between the two countries are being considered to boost trade connectivity.
LCCI President Mian Abuzar Shad, welcoming the envoy, said that Pakistan and Bangladesh, being the largest economies in Saarc after India, should utilise regional trade opportunities for mutual benefit. He said that Bangladesh's GDP has reached $437 billion while Pakistan's GDP stands at $373 billion. "It is time we join hands to maximise the trade potential."
Mian Abuzar Shad said that the balance of trade currently favours Pakistan, with total bilateral trade volume at $718 million in 2023-24. Of this, Pakistan exported goods worth $661 million to Bangladesh and imported goods valuing at $57 million. From July to March in the current fiscal year (2024-25), Pakistan's exports to Bangladesh stood at $603 million and imports at $63 million.
He said that with consistent efforts and mutual commitment, it is very feasible to raise the trade volume to at least $2 billion and even $5-10 billion in the near future, as envisioned by the LCCI.
Currently, Pakistan exports cotton fabrics, yarn and cement to Bangladesh. However, the LCCI president sees a huge potential in pharmaceuticals, surgical instruments, sports goods and auto parts. He also stressed the importance of moving towards a free trade agreement (FTA), given the favourable political and economic climate.
The LCCI president assured the high commissioner of the chamber's full support in promoting trade and investment between the two countries. "Our doors are always open for facilitating businesses and sharing trade-related information," he said.
He appreciated Bangladesh's growing interest in defence cooperation with Pakistan, saying that a recent visit by the principal staff officer of the Bangladesh Armed Forces Division marked a significant development in bilateral defence ties. He praised the Bangladesh foreign ministry's peace-oriented stance on the Pakistan-India conflict and expressed gratitude for the solidarity shown by the people of Bangladesh.
Mian Abuzar Shad sought the High Commission's support in facilitating an upcoming LCCI delegation's visit to Sri Lanka and Bangladesh in July 2025, comprising representatives from the textile, pharmaceutical and rice sectors. He requested assistance in arranging meetings with high-ranking officials from the Ministry of Commerce and top business organisations in Bangladesh.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ