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 Joint Economic Commission meeting between Pakistan and Bangladesh, particularly regarding trade and investment initiatives?
**Interview with Dr. Ayesha Khan, Expert in South Asian Economic Relations**
**Editor:** Thank you for joining us today, Dr. Khan. There’s some exciting news regarding Pakistan and Bangladesh’s bilateral relations, particularly with the upcoming Joint Economic Commission meeting. Can you share your thoughts on the significance of this meeting?
**Dr. Khan:** Thank you for having me. The upcoming meeting of the Pakistan-Bangladesh Joint Economic Commission (JEC) is indeed significant, especially in light of recent political changes in Bangladesh. Both countries have expressed an eagerness to strengthen ties in various fields, including trade and defense. This meeting presents an opportunity to not only review existing relations but also to explore how they can enhance cooperation going forward.
**Editor:** What do you think are the major issues that the JEC will address?
**Dr. Khan:** The agenda is quite comprehensive. Key points include a review of the existing trade relationships, which is crucial as both nations look to increase bilateral trade. There’s also a notable request from Bangladesh for duty-free access to a range of products, which could significantly enhance trade volume between the two countries. Additionally, discussions on the Bilateral Investment Treaty (BIT) are expected, which could pave the way for increased investment flows.
**Editor:** Duty-free access sounds important. Can you elaborate on that?
**Dr. Khan:** Absolutely. Bangladesh is seeking duty-free access for ten specific product categories, amounting to 104 products in total. This request is part of Bangladesh’s broader strategy to boost its exports and integrate more deeply into regional supply chains. If granted, it could not only benefit Bangladesh’s economy but also offer Pakistani businesses new market opportunities.
**Editor:** With both countries being founding members of SAARC and part of other economic groups, how might this meeting impact their standing in the region?
**Dr. Khan:** Strengthening bilateral relations between Pakistan and Bangladesh could serve as a model for cooperation within SAARC and other regional frameworks like the Developing 8 Countries. It emphasizes the potential for collaboration over historical grievances. A successful JEC could inspire other neighboring countries to pursue similar initiatives, enhancing overall economic stability and cooperation in South Asia.
**Editor:** what do you hope to see come out of this JEC meeting?
**Dr. Khan:** I hope to see concrete commitments towards enhancing trade and investment, as well as a willingness from both sides to address any logistical or regulatory challenges. Establishing a solid framework for cooperation could lead to a prosperous relationship that not only benefits both nations economically but also fosters closer political ties.
**Editor:** Thank you, Dr. Khan, for your insights on this important topic. We’re looking forward to seeing how the meeting unfolds and its implications for the future of Pakistan-Bangladesh relations.
**Dr. Khan:** Thank you for having me. I’m looking forward to the developments as well!