Pakistan and Bangladesh are preparing to sign a Memorandum of Understanding (MoU) to establish a Joint Working Group (JWG), aimed at revitalizing trade and investment ties between the two countries.
The announcement came during a meeting of Pakistan’s Commerce Minister Jam Kamal Khan with the Chattogram Chamber of Commerce and Industry, where both sides stressed the need for deeper economic engagement.
The new JWG will serve as a platform to develop a roadmap for cooperation across multiple sectors. Both countries also agreed to revive the long-dormant Joint Economic Commission, which last met in 2005, and to set up a Joint Trade Commission to strengthen dialogue on commercial priorities. These steps are seen as crucial for identifying opportunities, removing barriers, and facilitating smoother trade flows.
Areas of focus under the proposed cooperation include agriculture, renewable energy, steel, halal trade, green ship-breaking, agro-processing, and logistics. Discussions have also touched upon tariff reduction and preferential access for selected Bangladeshi goods in Pakistan, a move expected to improve competitiveness and balance trade volumes.
To encourage business exchanges, Pakistan has eased visa procedures for Bangladeshi entrepreneurs, while direct flights between the two countries are likely to begin soon.
These measures are expected to reduce transaction costs and improve connectivity, making trade more efficient.
The forthcoming MoU and institutional mechanisms mark a significant step towards rebuilding economic relations between Pakistan and Bangladesh, unlocking untapped potential and paving the way for stronger regional cooperation.
