Pakistan, Bangladesh trade surpasses $1bn, says high commissioner

• Pakistan, Bangladesh trade volume has been expected to enhance in time.
• Envoy Iqbal says Pakistan is beneficial market for lot of Bangladesh products.
• It is satisfying that trade of two brotherly countries has been restored: Iqbal.
  

ISLAMABAD: As both Pakistan and Bangladesh are keen on trading in several items, the trade volume between the two countries has surpassed $1 billion and it is bound to enhance in time to come, The News reported.

This was revealed by Bangladesh high commissioner for Pakistan Muhammad Iqbal Hussain Khan while talking to The News, who came from his maiden visit of Kasur and Faisalabad on Sunday evening where he met business community and traders. 

He had extensive discussions with them on the acceleration of trade and business between the two countries.

The high commissioner termed the visit as productive and beneficial.  Hussain assumed the office last month and first envoy of Bangladesh after ouster of pro-India Sheikh Hasina government.

The high commissioner said that there is great demand of so many products of Pakistan in Bangladesh, while Pakistan is a beneficial market for a lot of Bangladesh products. 

He said that it is satisfying that the trade of the two brotherly countries has been restored after more than fifteen years. Pakistan’s cotton, sugar, rice, apparels, especially lady dresses, fruits especially mangoes are in great demand in Bangladesh while Bangladesh can export pineapple, jute, pharmaceuticals, garments to Pakistan. 

The high commissioner said that the sky is the limit for increasing cooperation and trade between the two countries. In the meanwhile, 

Pakistan has exported the first consignment of rice to Bangladesh amounting to 26,000 metric tonnes (MT) through its national carrier, the first such export in about two decades.

A total lot of 50,000MT will be exported through the Trading Corporation of Pakistan (TCP). The remaining amount of 24,000MT will be exported next month.

The TCP had floated a tender in December after Bangladesh Trading Corporation (BTC) showed interest in buying rice from Pakistan on a government-to-government (g-2-g) basis to meet demand.

The TCP had floated a tender of 50,000MT of long-grain white rice (IRRI-6) and 50,000MT of non-basmati parboiled rice. When the tender was opened on January 6, it attracted 11 bids for long-grain white rice, with price offers ranging between $498.40 and $523.50 per metric tonne.

However, no bids were received for the non-basmati parboiled rice, prompting a fresh tender. The non-basmati parboiled rice is popular food in Bangladesh.

Another tender floated has given companies a deadline of February 27 to file expressions of interest to sell rice to Bangladesh.

The tender specifies that 60% of the rice will be delivered to Chattogram Port and 40% to Mongla Port of that country, with shipments routed through Karachi Port.

The rice must be packed in 50-kilogramme polypropylene woven bags and shipped as break bulk cargo.

The leaders of two countries; Shahbaz Sharif and noble laureate Dr Muhammad Yunus had two meetings on brinks of international events where the two decided to strengthen all-round ties between the two nations.