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KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Monday signed a memorandum of understanding (MoU) to form Pakistan-Bangladesh Joint Business Council (PBJBC) to strengthen, facilitate and enable trade between the two countries.
The delegation headed by FPCCI President Atif Ikram Sheikh also participated in the Bangladesh Pakistan Business Forum in Dhaka.
The visit to Bangladesh is taking place after a gap of 12 years. Pakistani businessmen look forward to meeting Dr Muhammad Yunus, Chief Advisor to the interim Bangladesh government in a couple of days.
FBCCI Administrator Muhammad Hafizur Rahman emphasised utilising the South Asian Association for Regional Cooperation (Saarc) and the Organisation of Islamic Cooperation (OIC) to strengthen bilateral trade relations.
He said there is ample scope for the two countries to work closely in energy, education, technology, human resources development, research and innovation to meet the challenges of the fourth industrial revolution.
Mr Atif said that diverse industries, sectors and verticals like electronics, cars, industrial machinery, carpets, toys, ceramics, sanitary products, handicrafts, fabrics, ready-made garments, leather, home appliances, processed foods, furniture, plastic goods, jute products, cosmetics, sports goods and jewellery, were represented in the business forum.
He said the delegation had a productive meeting with Bangladesh Commerce Minister Sheikh Bashiruddin a day earlier, during which he expressed his government’s intent to facilitate Pakistani exporters and products.
He added that the Bangladesh government has already relaxed visa requirements for Pakistani nationals, and Pakistan has reciprocated.
Mr Bashiruddin said that both countries would jointly search for options like investments, trade and industrial relations. He also assured the delegation of supporting Pakistani companies.
The FPCCI president highlighted that the trade delegation also had high-profile meetings with the Bangladesh Investment Development Authority (BIDA), where they discussed collective trade promotion activities, the exchange of delegations, and single-country exhibitions.
Published in Dawn, January 14th, 2025
