Pakistan and Bangladesh are ready to strengthen their bilateral relations in various fields including trade, defense production and signing of Bilateral Investment Treaty (BIT). Informed sources have indicated that these proposals will be reviewed in the upcoming meeting of the Pakistan-Bangladesh Joint Economic Commission (JEC).
According to a Business Recorder report, the importance of JEC has increased in the light of recent political changes in Bangladesh. The Ministry of External Affairs (MOFA) is currently working closely with the concerned ministries to finalize the agenda for the next meeting of the JEC.
Main points of the agenda
The following issues will be discussed during the JEC.
Bilateral Trade Overview: Review of existing trade relations and enhancement measures.
Duty Free Access: Bangladesh’s request for duty-free access to 10 product categories, covering a total of 104 products.
Free Trade Agreement: Negotiations on Bilateral FAT
Business diversity: Finding ways to diversify trade between the two countries.
Technical Cooperation in Textiles: Enhancing cooperation in the textile sector.
SME Sector Support: To promote cooperation between small and medium enterprises of the two countries.
Joint Business Council: Reactivation of the Joint Business Council to facilitate business relations.
Regular exchange of trade delegations: Establish a forum for trade delegations to enhance direct interaction and provide other resources for discussion.
This upcoming JEC meeting will provide an important opportunity for both countries to strengthen their economic ties and explore new avenues for cooperation.
Bangladesh proposes nuclear arms deal with Pakistan
According to the sources, the High Commissioner of Pakistan in Dhaka has highlighted the goodwill with the current government of Bangladesh.
According to sources, in view of this favorable environment, the High Commissioner emphasized the need to convene the Joint Economic Commission (JEC) at the earliest. He has held discussions with the adviser and commerce secretary in Bangladesh and stressed the importance of speeding up the process.
The first official statement of the government of Pakistan on the situation in Bangladesh came out
Bangladesh is currently negotiating concrete dates and an agenda for the JEC, which is expected to be held in Dhaka in late December or early January.
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What role do you believe the Bilateral Investment Treaty (BIT) will play in enhancing economic cooperation between Pakistan and Bangladesh after the upcoming JEC meeting?
**Interview with Dr. Sara Ahmed, South Asian Relations Expert**
**Interviewer:** Thank you for joining us today, Dr. Ahmed. With the upcoming meeting of the Pakistan-Bangladesh Joint Economic Commission (JEC), what are your thoughts on the significance of this gathering?
**Dr. Ahmed:** Thank you for having me. The upcoming JEC meeting is indeed significant. It marks a crucial step in fostering bilateral relations between Pakistan and Bangladesh, especially in areas like trade, defense production, and investment. Given the recent political transformations in Bangladesh, enhancing economic ties could lead to greater stability and cooperation in the region.
**Interviewer:** Can you elaborate on what specific topics will be addressed in this meeting?
**Dr. Ahmed:** Certainly! A key agenda item will be the review of existing trade relations. This involves assessing how both countries can enhance their current trade practices. Additionally, Bangladesh is seeking duty-free access for 10 product categories, which could cover as many as 104 products. This request highlights Bangladesh’s aim to boost its exports to Pakistan, which could be beneficial for both economies.
**Interviewer:** How important do you think the Bilateral Investment Treaty (BIT) is to this relationship?
**Dr. Ahmed:** The BIT is critical as it would provide a legal framework for investments between the two countries. This treaty would not only enhance investor confidence but also encourage joint ventures in various sectors. In a climate where both nations are looking for economic growth post-pandemic, a BIT could be a game-changer for fostering a cooperative economic environment.
**Interviewer:** You mentioned the recent political changes in Bangladesh. Could you explain how these might influence the discussions at the JEC?
**Dr. Ahmed:** Absolutely. Political stability often correlates with economic decisions. The current government in Bangladesh has expressed a strong interest in improving relations with Pakistan, which can lead to a proactive approach in negotiations. Additionally, the focus on economic development and regional cooperation could push both nations towards more comprehensive agreements that address mutual interests.
**Interviewer:** what is your outlook on the future of Pakistan-Bangladesh relations following this meeting?
**Dr. Ahmed:** If the discussions at the JEC yield positive outcomes, we could be on the brink of a new era in Pakistan-Bangladesh relations. Strengthening trade ties and enhancing cooperation in defense and investment can not only benefit both nations economically but can also pave the way for a more stable political relationship. Ultimately, fostering strong bilateral ties is essential for regional peace and prosperity.
**Interviewer:** Thank you, Dr. Ahmed, for your insights. It will be interesting to see the outcomes of the JEC meeting and how they might reshape the future of these two countries.
**Dr. Ahmed:** Thank you for having me! I look forward to following the developments closely.
