Bangladesh and Pakistan have taken a significant step to strengthen trade and investment relations by signing a memorandum of understanding (MoU) to establish a joint business council. The agreement was formalized during the “Bangladesh-Pakistan Business Forum” in Dhaka, with Hafizur Rahman, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Atif Ikram Sheikh, president of the Pakistan Federation of Chambers of Commerce and Industry (FPCCI), signing the deal.
The council aims to foster economic cooperation, facilitate the exchange of trade and investment information, and promote participation in trade exhibitions between the two countries. It will serve as a platform to explore and capitalize on untapped opportunities in sectors such as agriculture, textiles, pharmaceuticals, ICT, leather, and chemicals.
Both nations intend to leverage regional and international platforms like the South Asian Association for Regional Cooperation (SAARC) and the Organization of Islamic Cooperation (OIC) to strengthen bilateral trade ties. Business leaders at the forum emphasized the significant potential for expanding trade through collaborative efforts, highlighting the importance of joint initiatives to unlock mutual growth and address unexplored sectors. This collaboration is expected to pave the way for greater economic integration and shared prosperity.
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