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: Reactivating 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.
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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.
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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 potential challenges could arise from Bangladesh’s request for duty-free access to specific product categories in the trade discussions with Pakistan?
**Interview with Dr. Aisha Khan, South Asian Relations Expert**
**Editor:** Thank you for joining us today, Dr. Khan. There’s exciting news regarding Pakistan and Bangladesh looking to strengthen their bilateral relations in several sectors. Can you provide us with some insight into what this means for both countries?
**Dr. Khan:** Thank you for having me. The upcoming meeting of the Pakistan-Bangladesh Joint Economic Commission (JEC) is indeed a significant step forward. Both nations are keen on enhancing their relations, especially in trade and defense production, alongside discussions for a Bilateral Investment Treaty (BIT). This will not only facilitate smoother trade relationships but also bolster investment flows between the two countries.
**Editor:** Indeed. The agenda for the JEC meeting seems comprehensive. Can you elaborate on the importance of the Duty-Free Access that Bangladesh is requesting?
**Dr. Khan:** Absolutely. Bangladesh’s request for duty-free access to ten product categories, which encompasses a total of 104 products, is vital for its economy. It could enhance exports from Bangladesh to Pakistan significantly, leveling the playing field in regional trade. Moreover, this request demonstrates Bangladesh’s desire to engage more deeply with Pakistan economically, despite the historical tensions that have existed since 1971.
**Editor:** Speaking of history, recent political changes in Bangladesh have prompted increased focus on the JEC. How do you think these changes influence the bilateral relations moving forward?
**Dr. Khan:** The political landscape in Bangladesh has shifted, which has, in turn, bolstered the JEC’s relevance. A stable political environment often correlates with better trade relations. If both nations can navigate their historical complexities while embracing this newfound momentum, we could witness a pragmatic approach towards collaboration that benefits both economies.
**Editor:** This is a crucial juncture. What else do you expect will be addressed in the JEC that could further enhance cooperation?
**Dr. Khan:** The JEC will likely address various strategies for boosting trade volumes and may explore joint ventures in sectors like defense production. Aside from that, discussions around market access, regulatory harmonization, and capacity building can pave the way for long-term partnerships. Strengthening people-to-people ties through cultural exchanges could also play a vital role.
**Editor:** Thank you for sharing your insights, Dr. Khan. It seems there’s a promising trajectory for Pakistan-Bangladesh relations.
**Dr. Khan:** Thank you! Yes, if both sides remain committed to dialog and cooperation, the future looks bright for bilateral relations, potentially leading to stability and growth for both nations.
