Lahore: The Bangladeshi government has simplified its visa process for Pakistanis to promote stronger trade and economic relations, according to the High Commissioner of Bangladesh to Pakistan Iqbal Hussain Khan during a meeting at the Lahore Chamber of Commerce and Industry (LCCI).
LCCI President Mian Abuzar Shad highlighted the importance of promoting trade between the two countries. Other participants included Bangladesh’s Honorary Consul General Qazi Humayun Fareed, First Secretary Khadiza Akhter, and representatives from various chambers of commerce.
The High Commissioner stated that Bangladeshi visa clearance for Pakistani heads of missions is no longer required. He said increasing trade and investment is a priority, with LCCI playing a key role in this collaboration.
Iqbal Hussain Khan noted that Bangladesh’s population of 180 million represents a large market for Pakistani goods. He said trade between the two nations remains underutilized and urged Pakistan to capitalize on this potential.
He also emphasized the importance of regional cooperation and called for revitalizing the South Asian Association for Regional Cooperation (SAARC) to improve trade in South Asia. He said both countries must work to remove barriers to trade and create more opportunities.
LCCI President Mian Abuzar Shad shared trade figures, revealing that two-way trade reached $718 million in 2023-24, with Pakistan exporting $661 million and importing $57 million from Bangladesh. From July to November 2024, exports rose to $314 million, while imports stood at $31 million. He expressed a target of increasing bilateral trade to $2 billion, identifying sectors like IT, pharmaceuticals, rice, and sports goods as areas of growth.
Shad noted Pakistan’s primary exports to Bangladesh include cotton fabric, yarn, and cement, while jute is the main import from Bangladesh. He stressed the need for regular business delegation exchanges to explore opportunities and improve market understanding.
The High Commissioner and LCCI President agreed on the importance of fostering business-to-business interactions to expand trade relations. LCCI assured its full support in facilitating initiatives to enhance economic ties between the two countries.
