Bangladesh has streamlined its visa process for Pakistanis to bolster trade and economic ties.
During a session at the Lahore Chamber of Commerce & Industry, the High Commissioner of Bangladesh to Pakistan, Iqbal Hussain, announced that the Bangladeshi government has eliminated the clearance requirement from Dhaka for Pakistani heads of missions issuing visas.
Hussain highlighted Bangladesh’s eagerness to mend and improve the historically strained relations with Pakistan. He pointed out that Bangladesh, home to 180 million people, offers a significant market opportunity that Pakistan can explore. The potential for increased trade between the two nations remains largely untapped.
He also praised Dr Mohammad Yunus, chief adviser to Bangladesh’s interim government, for his efforts in regional cooperation. He called for revitalising the South Asian Association for Regional Cooperation (SAARC) to boost regional trade and collaboration. Hussain noted that despite global strides in regional cooperation, South Asia still faces challenges that demand joint efforts.
The High Commissioner underscored the shared responsibility of both countries to create opportunities for their populations through mutual trade and cooperation. He recognized LCCI’s significant role in fostering greater trade and investment between Pakistan and Bangladesh.
Reflecting on the COVID-19 pandemic, Hussain stressed the critical need for international cooperation to maintain smooth trade during crises.
LCCI President Mian Abuzar Shad provided data showing that bilateral trade between Pakistan and Bangladesh totalled $718 million in the fiscal year 2023-24. He detailed that Pakistani exports to Bangladesh were valued at $661 million, while imports stood at $57 million.
Shad desires to elevate bilateral trade to at least $2 billion soon. He called on governments and the private sector to take decisive steps toward this goal, noting the potential contributions of sectors like information technology, pharmaceuticals, rice, surgical instruments, processed foods, automotive parts, and sports goods.
