Dhaka-Karachi Trade: KCCI calls for removing non-tariff barriers
The leaders of the Karachi Chamber of Commerce & Industry (KCCI), Pakistan on Monday called for the removal of non-tariff barriers to strengthen bilateral trade between Bangladesh and Pakistan.
Muhammad Raza, senior vice president of the KCCI, made the appeal at a meeting with officials of the Export Promotion Bureau (EPB) held at its office in Dhaka, according to media release.
A 15-member trade delegation from the KCCI is currently visiting Bangladesh to discuss bilateral trade between the two nations, according to a statement from the EPB. On behalf of Bangladesh, EPB Vice Chairman Mohammad HasanArif attended the meeting.
During the discussions, the Pakistani delegation highlighted participation in the upcoming “My Karachi Show” to be held in Karachi, reducing tariff and non-tariff barriers, implementing decisions of the Joint Economic Commission, promoting joint investments, and making the South Asian Preferential Trade Agreement (SAPTA) more effective.
The delegation also inquired about potential obstacles to investing in Bangladesh. Additionally, both sides discussed exchanging trade-related delegations between the two countries, the statement said.
Arif invited Pakistan to participate in the Dhaka International Trade Fair.
Since bilateral trade remains below $1 billion, he emphasized the need to utilize the existing potential in trade and investment. He further noted that there are no barriers to investing in Bangladesh and assured that investment in the country is completely safe.
Assurances were given that necessary measures would be taken to resolve trade-related issues and increase investment between the two countries.
Arif also invited the Pakistani delegation to import environmentally friendly jute and jute products from Bangladesh. He stressed that businesspeople from both countries could benefit by working jointly in sectors such as agriculture and agricultural products, light engineering, and textiles, the EPB statement added.
Pakistani business groups, hopes to raise annual trade with Bangladesh to $3 billion-more than four times the current level-within a year.
