DCCI, FPCCI call for FTA at Bangladesh-Pakistan Business Forum
Dhaka Chamber of Commerce and Industry and the Federation of Pakistan Chambers of Commerce and Industry univocally called for signing an FTA or PTA and fostering collaboration between Pakistan and Bangladesh in emerging sectors.
The two organisations made the collective call in the “Bangladesh-Pakistan Business Forum” at the Dhaka Chamber of Commerce & Industry (DCCI) auditorium on Tuesday.
A high-level business delegation from the FPCCI, led by its President Atif Ikram Sheikh, participated in the forum. The event, aimed at enhancing bilateral trade and investment, was chaired by DCCI President Taskeen Ahmed.
Trade insights and challenges
DCCI President Taskeen Ahmed highlighted the trade statistics between Bangladesh and Pakistan, revealing significant potential for growth. In FY2024, Bangladesh imported goods worth USD 627.8 million from Pakistan while exporting only USD 61.98 million. He noted that bilateral trade faces challenges such as non-tariff barriers (NTBs) and tariff disparities. Ahmed proposed initiatives like resuming direct flights between Dhaka and Karachi and introducing new shipping routes to ease trade. He also emphasized the need for a bilateral trade agreement, such as a Free Trade Agreement (FTA) or Preferential Trade Agreement (PTA), to unlock the full potential of trade relations.
Ahmed identified key sectors with growth opportunities, including agriculture, cement clinkers, leather goods, surgical instruments, chemicals, IT, and public health management.
Pakistan’s perspective
FPCCI President Atif Ikram Sheikh expressed optimism about the potential for stronger trade ties, despite the current trade volume falling short of expectations. He noted that textiles and apparel make up 55% of Pakistan’s exports to Bangladesh, while Bangladesh predominantly exports ready-made garments. Sheikh urged Bangladeshi entrepreneurs to expand imports from Pakistan, including agricultural products, rice, and ceramics. He also highlighted Bangladesh’s advancements in IT and mobile financing, suggesting collaboration and joint investment in these areas.
Sheikh encouraged Bangladeshi exporters to use Pakistan as a trade corridor for reaching other countries and stressed the importance of logistics infrastructure development to accelerate exports and imports.
Future prospects
Syed Ahmed Maroof, High Commissioner of Pakistan to Bangladesh, mentioned the resumption of sea routes for goods transportation between the two countries. He expressed confidence that bilateral trade could reach USD 3 billion within the next two to three years if current trade and investment activities continue.
Focus on IT and tourism
DCCI Senior Vice President Razeev H. Chowdhury called on Pakistani IT entrepreneurs to invest in Bangladesh’s Hi-tech Parks, leveraging the young and innovative workforce in both countries. FPCCI Senior Vice President Saqib Fayyaz Maggon emphasized the need to increase trade volume to reduce product costs and suggested promoting tourism through joint collaboration.
B2B matchmaking session
A B2B matchmaking session followed the forum, where nearly 100 DCCI member companies engaged with the visiting Pakistani delegation to explore business opportunities.
The event was attended by DCCI Vice President Md. Salim Solaiman, DCCI Director Saif Ud Dowlah, members of the DCCI Board, and other notable participants from both countries.