ISLAMABAD, March 19: Pakistan would invest in the Export Processing Zones of Bangladesh particularly in textile, agro- based and pharmaceutical sectors.

An official statement said here that minister for Industries and Production Liaquat Ali Jatoi who returned from Dhaka on Wednesday evening announced this during his visit to Dhaka EPZ at Savar early Wednesday morning.

He suggested the two South Asian nations should further bolster economic relations, sharing each other’s experience and expertise in the industrial sector.

He underscored the need for frequent exchanges of delegation between the two countries in the field of industries, culture and education.

Referring to the visit of President General Musharraf to Dhaka last year, the industries minister said it had helped usher in a new era of bilateral relations.

Jatoi said the two SAARC countries should foster relations to compete in the international market with more transparent framework for business community and rationalization of tariff and improvement of quality produce.

He hailed the Chairman of BEPZA for creating congenial atmosphere for foreign direct investment. The Executive Chairman of BEPZA, Brig. General (R) Mafizur Rahman, while briefing the minister said textile, agro-based and pharmaceutical sectors were accorded priority in order to woo foreign investors in the zone.

Mafiz gave a rundown of the contribution of EPZs of the country to the economy with bringing in new technology, generating employment and ensuring progressive export earnings, a pattern Pakistan could also follow to woo foreign investment to increase exports.