DHAKA, Jan 28: Pakistan is to increase its imports from Bangladesh and look for new areas of economic cooperation, Commerce Minister Abdul Razak Dawood said here on Monday.

During an official visit, the minister told Bangladesh’s Prime Minister Khaleda Zia that Islamabad would increase imports of tea, jute, leather and pharmaceutical products from Bangladesh.

The official BSS news agency reported that after official talks with his Bangladeshi counterpart Amir Mahmud Khashru Chowdhury, Razak said both sides had agreed to promote bilateral trade and seek new areas of cooperation.

Officials here said Dhaka asked for a reduction in the trade gap which is currently heavily in Pakistan’s favour.

Pakistani exports to Bangladesh in the last fiscal year were worth $90.53 million against imports of $30.2 million.

Mr Dawood arrived here on Sunday for a three-day visit with a 29-member trade team.

The delegation, representing a broad spectrum of business interests, will explore avenues of further expansion of trade and economic relations with Bangladesh.

Pakistan is also participating in Dhaka International Trade Fair (DITF), currently being held in the capital.

Thirty-three companies, mostly manufacturing engineering goods, are representing Pakistan at the fair.

Pakistan and Bangladesh have close fraternal ties marked by understanding and cooperation in diverse fields. The two-way trade maintains an upward trend and rose by 15 per cent last year.

Pakistan’s major exports to Bangladesh include cotton, cotton-yarn, rice, machinery and equipment, petroleum and petroleum products. Bangladesh’s main exports to Pakistan include tea, jute, vegetable material and betel leaf. Pakistan companies have 61 joint ventures with their counterparts in Bangladesh.—AFP/APP