Islamabad, Pakistan (CU)_ According to Rahul Alam Siddique, the High Commissioner of Bangladesh to Pakistan, the bilateral trade between Pakistan and Bangladesh has been growing rapidly and would likely surpass $1 billion in the near future, reaching a significant milestone. He stated that this momentous occasion will be commemorated at the Bangladeshi High Commission in Islamabad as well as the Deputy High Commission in Karachi.
At a meeting held during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the ambassador stated that the present bilateral trade volume has climbed to approximately $900 million and continues to develop at an accelerating rate. He expressed hopes over the upward trend, which would be beneficial for the business communities of both countries. He said, “Pakistan’s exports to Bangladesh have risen by 48 percent while exports from Bangladesh to Pakistan appreciated by 14 percent, which is a good sign”.
Highlighting the growth, prosperity, and accomplishments of Bangladesh over the past 50 years, he stated that his country had no foreign exchange reserves and a poverty rate of over 82% when it was formed in 1971 and also met with numerous hurdles. He spoke about the country’s progress in exports. He said, “During the last 50 years, Bangladesh achieved many goals under its Vision 2021 programme and now the total exports of the country have crossed $50 billion. Bangladesh was number one country in jute production, second in readymade garments exports, third in fish exports, and fourth in rice production and tomato production in the world”.
The envoy added that Bangladesh has graduated from the classification of least developed nation to that of developing country. Bangladesh has also made great socioeconomic growth and has become one of the world’s most vibrant economies as a result of its visionary leadership, resilient people, and political stability.
General Secretary of BMG AQ Khalil lauded the Bangladeshi government’s initiatives to strengthen trade and business links with Pakistan. He believed that Pakistan should learn from Bangladesh’s history and experience. He said, “Bureaucratic hurdles were one of the most serious issues being suffered by Pakistan. Hence, we must learn how Bangladesh dealt with its bureaucracy and adopt the same strategy”.
