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.
Bangladesh proposes a 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.
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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 are the main challenges and opportunities in enhancing trade relations between Pakistan and Bangladesh, as discussed by Dr. Samira Khalid?
**Interview with Dr. Samira Khalid, South Asia Relations Expert**
**Interviewer:** Thank you for joining us, Dr. Khalid. Pakistan and Bangladesh are looking to significantly enhance their bilateral relations. What do you think are the key areas they are focusing on?
**Dr. Khalid:** Thank you for having me. Yes, it’s an important development. The upcoming meeting of the Pakistan-Bangladesh Joint Economic Commission (JEC) will focus on various crucial areas, including trade, defense production, and the signing of a Bilateral Investment Treaty (BIT). These areas are pivotal for both economies, especially in light of recent political changes in Bangladesh that have created a more favorable environment for such discussions.
**Interviewer:** That’s right. The agenda also includes a review of existing trade relations. Can you elaborate on that?
**Dr. Khalid:** Certainly. The JEC will review existing trade relations and explore enhancement measures. Both countries have the potential to greatly benefit from increased trade volumes. Specifically, Bangladesh has requested duty-free access for 10 product categories, which could significantly boost its exports to Pakistan and foster a more balanced trade relationship.
**Interviewer:** Why is the duty-free access request particularly significant?
**Dr. Khalid:** Duty-free access is crucial because it opens markets for Bangladeshi products, promoting exports while helping Pakistan diversify its imports. This could lead to a more integrated economic relationship, benefiting both countries. Moreover, it demonstrates Bangladesh’s commitment to strengthening ties with Pakistan and can lead to reciprocal benefits in trade.
**Interviewer:** And what impact do you think recent political changes in Bangladesh have had on these discussions?
**Dr. Khalid:** The political landscape in Bangladesh has shifted, which tends to underscore the importance of international relations for economic stability. The Ministry of External Affairs (MOFA) in Bangladesh is actively engaging with other ministries to prepare for the JEC, showing a strategic approach to foreign relations. This proactive stance can foster more robust collaborations not only with Pakistan but also with other countries.
**Interviewer:** That sounds promising for both nations. what do you think is the long-term outlook for Pakistan-Bangladesh relations?
**Dr. Khalid:** The long-term outlook appears optimistic, provided both countries continue to engage meaningfully. A focus on trade and investment can lead to deeper ties and mutual growth. Historical relations have been a mix of cooperation and conflict, but initiatives like the JEC signal a desire for constructive engagement moving forward.
**Interviewer:** Thank you, Dr. Khalid, for your insights on this important subject.
**Dr. Khalid:** Thank you for having me. It’s a crucial time for both nations, and I look forward to seeing how these discussions evolve.
