MoU Signed to Form Joint Business Council Bangladesh – Pakistan Business Forum Held in Dhaka Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheikh, President FPCCI, has apprised that the Pakistani trade
delegation, led by FPCCI, participated in Bangladesh – Pakistan Business Forum in Dhaka;
which was organized by the Federation of Bangladesh Chambers of Commerce & Industries
(FBCCI), on Monday

A Memorandum of Understanding (MoU) was also signed between FPCCI and FBCCI in the
meeting to form Pakistan – Bangladesh Joint Business Council (JBC) to strengthen, facilitate and
enable trade between the two countries.

Mr. Atif Ikram Sheikh added that diverse industries, sectors and verticals like electronics, cars,
industrial machinery, carpets, toys, ceramics, sanitary products, handicrafts, fabrics, ready-made
garments, leather, home appliances, processed foods, furniture, plastic goods, jute products,
cosmetics, sports goods and jewelry, were represented in the business forum.

Mr. Muhammad Hafizur Rahman, Administrator of FBCCI, emphasized on utilizing the South
Asian Association for Regional Cooperation (SAARC) and the Organization of Islamic
Cooperation (OIC) to strengthen Bangladesh – Pakistan trade relations.
Mr. Muhammad Hafizur Rahman said that there is ample scope for the two countries to work
closely in sectors such as energy, education, technology, human resources development, research
and innovation to meet the challenges of the fourth industrial revolution.

In other high-profile engagements, Mr. Atif Ikram Sheikh informed that, the delegation had a
productive meeting with Sheikh Bashiruddin, Advisor / Minister for Commerce, Bangladesh, a
day earlier – in which he expressed his government’s intent to facilitate Pakistani exporters and
Pakistani products. He added that Bangladesh government has already relaxed visa requirements
for Pakistani nationals and Pakistan has also done the same.

FPCCI Chief highlighted that the Pakistani trade delegation also had high-profile meetings with
Bangladesh Investment Development Authority (BIDA) and Federation of Bangladesh
Chambers of Commerce & Industry (FBCCI). We have discussed collective trade promotion
activities; exchange of delegations and single-country exhibitions, he added.

Mr. Atif Ikram Sheikh noted that the Pakistani exporters have received initial order of 25,000
metric tonnes of sugar and raw fabric demand from Bangladesh is so sizeable that there is a
dearth of the same in Faisalabad. These are great omens and it is just a beginning, he added.

Mr. Saquib Fayyaz Magoon, SVP FPCCI, stressed that the business, industry and trade
community of Pakistan can achieve substantive milestones for Pakistan through economic
diplomacy; which seem to be difficult vis-à-vis political diplomacy. That is how nations and the
regions come closer in today’s world through forging interdependencies that result in creation of
wealth and prosperity for their respective populations.

Mr. Magoon added that the delegation will also visit Dhaka International Trade Fair (DITF) to
explore avenues of mutual cooperation and study international trends in various established and
emerging industries.