ISLAMABAD, Aug 20: Pakistan has proposed to Bangladesh to consider a limited number of items for a bilateral preferential market access to increase the current volume of trade between the two countries. Pakistan’s Acting Secretary Commerce Syed Asif Shah proposed this in a meeting with Bangladesh Foreign Secretary Hamayatuddin here on Saturday. The High Commissioner for Bangladesh and senior officials of the ministry of commerce were also present in the meeting.

An official announcement said that Pakistan also proposed that the number of items for preferential market access between the two countries could be increased during subsequent years. The proposal came following the Bangladesh side requested Pakistan to consider additional items for preferential tariff concessions. The Bangladesh foreign secretary said that at present his government was particularly interested in importing 200,000 tons of par-boiled rice from Pakistan.

He referred to the market access offered to Bangladeshi goods like raw jute, rice and tea, which has been widely appreciated by the business community in Bangladesh. The foreign secretary pointed out that the trade imbalance between the two countries needed to be rectified.

He stressed the need for increasing interaction both at the government and private sector level for enhancing bilateral trade. The acting secretary commerce reiterated Pakistan’s interest in strengthening economic and trade relations. Mr Shah urged Bangladesh side to resume negotiations on bilateral free trade agreement (FTA) so that additional items for tariff concessions could be considered.

He said that Pakistan’s secretary commerce was likely to visit Bangladesh during the last week of next month to discuss issues pertaining to bilateral trade. He stressed the need for strengthening Joint Business Council and identification of opportunities for investment.