DHAKA: Bangladesh and Pakistan would share their respective sectoral strengths with each other for the economic well being of the two countries.

Lahore Chamber of Commerce and Industry (LCCI) and Bangladesh High Commission (HC) to Pakistan would act as a facilitator in this regard.

Bangladesh HC to Pakistan Suhrab Hossain and LCCI President Sohail Lashari on Thursday said under the consensus the two countries should share their strengths and weaknesses with each other at government-to-government and chamber-to-chamber levels to create a win-win situation as far as two economies were concerned.

Until and unless we share our fruit baskets with each other, we would remain dependent on others.

It was also decided the BD HC would collaborate with LCCI for SAARC Exhibition being organised by the LCCI in a few months time.

The HC stressed the need for a proactive collaboration between the private sectors of the two sides to give fresh impetus to bilateral trade and economic relations.

He urged Pakistani businessmen to take part in International Expo held in Bangladesh every year to further strengthen their liaison with their Bangladeshi counterparts.

He said both the sides could also initiate Joint Ventures in various sectors of the economy.

Hossain said Pakistan and Bangladesh should take maximum steps to strengthen relations in all fields. This calls for intensive market research, single country exhibitions on reciprocal basis, frequent visits of trade delegations, exchange of socio-cultural programmes and close contact between trade bodies of the two countries.

Sohail Lashari said the LCCI was planning to arrange a SAARC Exhibition in Lahore to further cement trade ties among these neighboring countries.

He said though trade between the two countries was growing progressively but more concrete steps were needed to enhance the economic ties.

He said Pakistan could export cement, sugar, engineering goods, agriculture and transport equipments, electrical and non-electrical machinery and etc.

He said there was a need to develop close linkages among the major chambers of commerce from both sides. The regular interaction between private representatives can promote trade relations between Pakistan and Bangladesh.

Market research should be conducted regarding their range of products and priority should be given to each other for import of goods rather than buying from distant countries.

He said the frequent shipping arrangements between the two countries could ensure uninterrupted flow of goods between Pakistan and Bangladesh.

Single country exhibitions and frequent exchange of trade delegations always play an important role for the promotion of trade.

Lashari said business community of the both countries could initiate joint ventures in the sectors of ready-made garments, agro-based projects, light engineering, sugar, cement, fertilizers, chemicals, electronics, home appliances, cotton and jute textiles.

He said Pakistan and Bangladesh could also share experiences in the fields of small and medium enterprises development. Incentives offered to the foreign investors in Pakistan are not only unprecedented but also make it the right place for investment, in comparison with other countries of the region.

Foreign investors seeking new avenues and markets are welcome to come forward and invest in Pakistan. These markets include Central Asian Republics and Gulf States.

He said SAARC nations are home to 21 percent of the world`s population but account for only 2 percent of the world GNP and share only 1.3 percent in the world`s total exports, 1 percent of global FDI inflows and 1 percent of global tourism receipts.

Suhrab Hossain also met with Chief Minister of Punjab Shahbaz Sharif on Friday.

Matters of mutual interest, bilateral relations and promotion of cooperation in various sectors were discussed during the meeting.

Source: paktribune & thenews.com.pk

BDST: 1554 HRS, NOV 09, 2013
SR/MMA/JCK