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.
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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 are the expected outcomes of the upcoming Joint Economic Commission (JEC) meeting between Pakistan and Bangladesh, and how might they influence bilateral trade relations?
**Interview with Dr. Sara Khan, South Asia Expert**
**Editor:** Thank you for joining us today, Dr. Khan. There are significant developments regarding Pakistan-Bangladesh relations, particularly with the upcoming Joint Economic Commission (JEC) meeting. Can you elaborate on the importance of this meeting?
**Dr. Khan:** Thank you for having me. The upcoming JEC meeting is crucial for both countries as it reflects a renewed commitment to strengthen bilateral relations across key sectors like trade and defense. This meeting is especially important considering the recent political changes in Bangladesh, which have created a new context for negotiations. Both countries stand to benefit from enhanced cooperation, which could lead to economic growth and stability in the region.
**Editor:** One of the main agenda points includes a bilateral trade overview. What specific enhancements can we expect from this discussion?
**Dr. Khan:** Indeed, the review of existing trade relations is pivotal. Both nations will likely assess current trade volumes and identify opportunities for increasing exports and imports. Furthermore, Bangladesh’s request for duty-free access to ten product categories, which represents a broader initiative to enhance trade, will be a key focus. If agreed upon, this could significantly boost trade between the countries, benefiting various sectors.
**Editor:** You mentioned defense production as another area of interest. How does this fit into the broader context of their relationship?
**Dr. Khan:** Defense production collaboration can lead to a stronger security framework for both nations. As South Asia faces various security challenges, enhancing defense ties could provide a unified approach to tackling these issues. This collaboration can also foster innovative solutions through joint ventures, which can be economically advantageous for both countries.
**Editor:** The signing of a Bilateral Investment Treaty (BIT) is also on the agenda. What impact could this have on bilateral relations?
**Dr. Khan:** A Bilateral Investment Treaty would create a more secure environment for investors from both countries. By establishing clear rules for investment and protecting investors’ rights, a BIT can boost foreign direct investment, enhance economic ties, and provide a framework for resolving disputes. This could invigorate economic relations and build trust between the two countries, which is especially important given their complex historical background.
**Editor:** Lastly, what are the long-term implications of these discussions for Pakistan and Bangladesh?
**Dr. Khan:** If successfully implemented, these measures could lead to a significant transformation in bilateral relations. Enhanced trade, investment, and defense cooperation could foster stability and mutual growth, helping to overcome historical grievances. Ultimately, this could pave the way for a more collaborative and peaceful South Asia.
**Editor:** Thank you, Dr. Khan, for your insights into this important topic. We’ll be following the outcomes of the JEC meeting closely as the potential developments in Pakistan-Bangladesh relations unfold.
**Dr. Khan:** Thank you for having me! It will indeed be interesting to see the results of the upcoming meeting.