FAISALABAD, Oct 28 (APP): Bangladesh High Commissioner to Pakistan M.D. Iqbal Hussain Khan on Wednesday called for expanding air and maritime connectivity between the two countries to unlock their untapped bilateral trade potential, saying that improved transport links and diversification of traded goods could help substantially increase the existing $1 billion trade volume.
During a meeting with President Faisalabad Chamber of Commerce & Industry (FCCI) Arif Ehsan Malik at the chamber, the high commissioner said that bilateral relations had improved over the past two years, creating a favorable environment for practical initiatives to strengthen economic cooperation.
He stressed the need to introduce direct air services between Dhaka and Lahore to facilitate business travel and improve commercial contacts between the two countries. The existing trade volume remained far below its actual potential and stronger connectivity was imperative to expand bilateral commerce, he added.
The high commissioner said that Bangladesh was importing rice and maize from Pakistan without any restrictions on the quantities while Pakistan could explore opportunities to import pineapples and jute from Bangladesh.
He said that Bangladesh was interested in importing a wider range of Pakistani products beyond textiles.
He also expressed interest in Pakistani organic cosmetics and announced plans to visit the hosiery market in Jinnah Colony to explore further business opportunities.
Describing the current period as opportune for strengthening longstanding brotherly relations, he emphasized the need to translate goodwill between the two countries into concrete trade and investment initiatives.
Welcoming the high commissioner, FCCI President Arif Ehsan Malik said that Bangladesh had always held a special place in the hearts of Pakistanis and expressed confidence that closer business-to-business contacts would help expand bilateral economic cooperation.
He informed the visiting delegation that Faisalabad chamber represented more than 22,000 members and highlighted Faisalabad’s significant contribution to Pakistan’s economy. The city accounted for an estimated 15 to 18 percent of the national Gross Domestic Product (GDP) and around 15 percent of the country’s exports, he said.
While textiles remained Faisalabad’s traditional industrial identity, the city had also witnessed rapid growth in sectors including automobiles, mobile phones, foundries, tiles, food processing and confectionery, he added.
Arif Ehsan Malik said that the city’s 8,400-acre industrial estate offered considerable capacity for establishing modern industrial units and attracting further investment.
Welcoming the growth of Bangladesh’s textile exports which had reached $40 billion, the FCCI President stressed that both countries needed to embrace the circular economy to address emerging environmental and export-related challenges.
He said that Punjab governor had declared Faisalabad the country’s first circular city, reflecting its growing focus on resource efficiency and industrial recycling. Around 65 percent of Pakistan’s textile waste was currently recycled in Faisalabad, he added.
The FCCI President observed that reducing industrial waste and adopting sustainable production practices had become increasingly important for both Pakistan and Bangladesh particularly in maintaining and expanding exports to European Union countries. He stressed that both countries would need to minimize waste and improve environmental compliance to sustain their competitiveness in international markets.
Later, Arif Ehsan Malik presented an honorary shield to the high commissioner, who also recorded his impressions in the FCCI Visitors’ Book.
Bangladesh Consul M.D. Tayeb Ali, Political Counsellor Madam Ishrat Jahan, Administrative Officer (Accounts) M.D. Mahfuzul Hasan, staff members M.D. Khandoker Khalikuzzaman, M.D. Alamgir Hussain Bhuiyan and M.D. Bilal, FCCI Senior Vice President Mian Muhammad Saeed and Vice President Muhammad Yasin were also present on the occasion.
Source: APP (Associated Press of Pakistan)
