High Commissioner of Bangladesh, from Pakistan, Mohammad Iqbal Hussain Khan, has revealed that bilateral trade between the two countries has exceeded $ 1 billion, according to a recent news report.
The envoy, while talking with The newsHe said that trade between the two parties was obliged to increase, since countries were still interested in improving cooperation.
The two countries have witnessed a thaw in the ties after the expulsion of the Prime Minister of India, Sheikh Hasina.
In the years after the division, Dhaka’s leaders, especially the recently expelled regime of Sheikh Hasina, firmly remained in the Indian camp, preferred to maintain close ties with New Delhi and keep Islamabad in the long term.
However, since a popular uprising that saw the Hasina government collapsed in August, there has been a thaw in the ties between the two capitals, with commercial and bilateral relations to see a marked improvement.
Hasina was replaced by Nobel Prize Yunus, who has expressed interest in maintaining cordial ties with Pakistan. During his interaction with Prime Minister Shehbaz, Bangladesh leader had highlighted the need to “establish” issues and “advance.”
In January, the envoy had also announced that it was expected that direct flights between the two countries began in the coming months, highlighting Bangladesh’s commitment to strengthen commercial associations with Pakistan, emphasizing the ease of obtaining online Bangladesh visas for Pakistani citizens.
The report also cited Khan saying that there was a “great demand” of Pakistani products in Bangladesh, while Pakistan also benefits from Bangladesh’s products.
He described the restoration of trade after 15 years between the two countries as “satisfactory”, highlighting the demand for Pakistani cotton, sugar, rice, clothing and fruits, such as mangoes, in Bangladesh.
He added that Bangladesh could export pineapple, yute, pharmaceutical products and garments to Pakistan.
The high commissioner also said that “heaven is the limit to increase cooperation and trade between the two countries.”
The report also said that Pakistan “exported the first sending of rice to Bangladesh for ascent to 26,000 metric tons through its national carrier, the first export of this type in approximately two decades.”
The new agreement, ended earlier this month, sees Bangladesh buy white rice from Pakistan to $ 499 per ton through the commercial corporation of Pakistan. The shipment will be delivered in two phases, with the remaining 25,000 tons expected in early March.
However, the price of rice is higher than that of Vietnam’s rice, which Bangladesh has been importing at $ 474.25 per ton.
Bangladesh has been fighting to stabilize the rice market, since prices have increased by 15-20 percent in recent months, with medium quality rice that is sold to around 80 Taka ($ 0.66) per kilo.
To control rice prices, Bangladesh is importing more rice from international markets, even through tenders, and has discarded import tariffs.
