Pakistan's trade volume with Bangladesh increased by 20 percent, says its high commissioner

The Pakistani envoy has discussed bilateral trade during a meeting with Chief Advisor Yunus

Bangladesh and Pakistan’s businesses are exploring new avenues for investment, Pakistan’s High Commissioner to Bangladesh Imran Haider has said, noting that bilateral trade grew by 20 percent in the last fiscal year.

He made the remarks during a meeting with Chief Advisor Muhammad Yunus on Sunday at the State Guest House Jamuna.

During the meeting, both sides discussed ways to strengthen relations between the South Asian neighbours by expanding cooperation in trade, investment and aviation, alongside enhancing cultural, educational and medical exchanges.

Highlighting progress in cultural exchanges, Haider said interest among Bangladeshi students in pursuing higher education in Pakistan has increased, particularly in medical sciences, nanotechnology and artificial intelligence.

He also noted a rise in the number of patients travelling to leading Pakistani hospitals for liver and kidney transplants, adding that Pakistan is ready to offer training and academic opportunities related to transplant treatment.

Yunus welcomed the growing interactions between the two countries and emphasised the importance of increased visits, as well as cultural, educational, and interpersonal exchanges among SAARC member states.

Emphasising the need to expand Bangladesh-Pakistan trade, Yunus expressed optimism that during Haider’s tenure, the two countries will explore new investment areas and joint venture-based business opportunities.

Haider divulged that direct flights from Dhaka to Karachi are expected to start in January.

According to figures from Pakistan’s central bank, the State Bank of Pakistan (SBP), bilateral trade with Bangladesh increased by nearly 20 percent in the last fiscal year to about $865 million.

In the 2023-24 fiscal year, trade between the two countries stood at around $711.7 million.

Data from Bangladesh’s National Board of Revenue show that Bangladesh mainly imports raw materials for the garment industry, leather, clinker, fabrics, cotton, onions and potatoes from Pakistan, while Bangladesh’s key exports to Pakistan include tea, ready-made garments and raw jute.