Fida Hussnain Lahore
In a significant move aimed at enhancing economic and trade ties, Bangladesh has relaxed visa conditions for Pakistanis.
The step is intended to facilitate better bilateral relations and increase trade between the two nations.
Bangladesh’s High Commissioner to Pakistan, Iqbal Hussain Khan, shared this update during a speech at the Lahore Chamber of Commerce and Industry (LCCI) on Saturday.
LCCI President, Mian Abuzar Shad, welcomed the attendees and emphasized the importance of boosting trade between Pakistan and Bangladesh. The session was also addressed by Bangladesh’s Honorary Consul General, Qazi Humayun Fareed, along with officials from the LCCI, Sheikhupura Chamber, and Gujranwala Chamber, including Senior Vice President Ahmad Naveed Ranjha.
The High Commissioner stated that the Bangladeshi government has simplified the visa application process and removed the requirement for clearance from Dhaka for Pakistani heads of missions.
He highlighted that fostering trade and investment between the two countries would be a top priority, with LCCI playing a key role in achieving this objective.
Iqbal Hussain Khan also expressed Bangladesh’s interest in improving relations with Pakistan, acknowledging that the ties between the two nations had been suboptimal in the last decade.
He mentioned that Bangladesh, with a population of 180 million, represents a large consumer market that Pakistan can tap into. Despite the significant trade potential, the High Commissioner noted, this opportunity remains largely untapped.
Furthermore, the High Commissioner praised Dr. Muhammad Yunus, the Chief Advisor to Bangladesh’s interim government, for advocating regional cooperation and urged closer collaboration among South Asian countries. He called for revitalizing the South Asian Association for Regional Cooperation (SAARC) to promote regional trade and cooperation, noting that while global regional cooperation is growing, South Asia still faces challenges that require collective efforts.
He stressed that both Pakistan and Bangladesh must create opportunities for their younger generations by removing barriers to trade and cooperation. He also reflected on the lessons learned from the COVID-19 pandemic, which underscored the need for international collaboration to ensure smooth trade flows.
LCCI President Mian Abuzar Shad presented trade figures, revealing that the total trade between Pakistan and Bangladesh during the 2023-24 fiscal year was valued at $718 million.
Pakistan’s exports to Bangladesh amounted to $661 million, while imports from Bangladesh were $57 million.
