Bangladesh-Pakistan economic relations

[leonblack08]

There were no separate thread for economic relation between Pakistan and Bangladesh.So this thread is for discussing trade between both countries.

Hope the MODS will make this sticky.
I am starting with today's news.

PM for reducing trade imbalance with Pakistan​

UNB, Dhaka
Prime Minister Sheikh Hasina today stressed the urgency of removing Bangladesh’s widening trade imbalance with Pakistan as she said there is huge potential lying untapped for enhancing the bilateral trade.

She made the suggestion when Pakistan High Commissioner in Dhaka Alamgir Bashar Khan Babar paid a courtesy call on her at the Prime Minister’s Office this morning.

They also discussed various bilateral issues, including trade and investment and terrorism.

The premier stressed the need for joint efforts to root out terrorism to establish peace in the South Asian region.

“Terrorism and the terrorists have no boundary and religion,” she told the diplomat of Pakistan.

Hasina observed there is huge potential for enhancing bilateral trade between the two countries. “Due importance should be given to rectify the widening trade imbalance.”

The two-way trade in the recent years has been in the range of $300-$350 million, and Bangladesh’s exports have hovered around $70 million only.

The prime minister emphasized general understanding on granting zero-tariff access to each other under the Early Harvest Programme to reduce the expanding trade gap.

She also expressed the hope that Pakistani businessmen would take interest in investing in Bangladesh in the sectors of pharmaceuticals, textiles, information technology, telecommunications and agro-based industries.

Hasina recalled her recent meeting with Pakistani Prime Minister Yousuf Raza Gilani at Sharm el-Sheikh in the wings of the 15th Nam Summit and stated that they had fruitful discussions on how to work together to improve the quality of people’s life through eradicating poverty from the region.

Hasina said regional cooperation would have to be institutionalized and collective strength of the South Asian countries be harnessed to face the challenges in the region.

The Pakistani high commissioner expressed interest in bilateral exchange of information on different sectors.

The Daily Star - Details News

 

[SeaGull]

YES - this is an encouraging sign. But more than our trade imbalance with Pakistan .We should focus on our massive trade imbalance with our immediate neighbour India and with China.

The PM, by virtue of her special relation with India, could during her tenure insist on and work to make this a zero imbalance.

 

[leonblack08]

They say if the Deep sea port is completed,trade imbalance with India would come to zero.How much truth in it?

And we should work more hard to penetrate their market.So that the trade imbalance between two countries reduces.

 

[SeaGull]

They say if the Deep sea port is completed,trade imbalance with India would come to zero.How much truth

Do not believe in any of that PROPAGANDA STUFF

 

[leonblack08]

Do not believe in any of that PROPAGANDA STUFF

Though I am in favor of the Deep sea port,but it won't reduce our trade imbalance to zero.

 

[TopCat]

Well we need a deep sea port for ourselves regardless of whether you want to allow that for India or not. Once we had the port and we find it economically beneficial to render services to other countries then we could definitely give that a try. Till 1965 India did use our Chittagong port.

Trade imbalance is something else. Even if you do make 2 billion through your deep sea port the trade imbalance will remains same as trade does not count the royalty you make through port.

 

[TopCat]

Just look at our pharma industry. We export to every south asian nation, pk,sl, bhutan, nepal and maldives except India. Why? because of indian non tarrif barrier. Indians got that in their funda that they are the one (and ofcourse guras the master) who could make things and everybody else in south asia is just dumb.

 

[Al-zakir]

Just having casual meeting for photo session won't boast our trade. I have been seeing this kind of session many times and frankly fed up this BS.

Our trade will not increase unless we establish better communication between Pakistan and Bangladesh including people to people contact. We must reestablish direct shipping route instead using Dubai as a link which itself is a anti trade policy due to delivery time and cost. What confuse me is that how come, we don't have direct shipping service to Pakistan when bd was just part of united Pakistan some years ago.

Didn't we have direct route between two wings of Pakistan that how hard is it to reestablish? Some one tell me...

We are contributing billions in enemy's economy instead of our west brother. Bharat being a selfish and arrogant nation will not allow our products to enter in its eastern market even though there are tremendous amount of popularity of our products there.

It will be a lot easier for bd's product to enter in Pakistani market and than central Asia. We should abandon trade with Bharat and concentrate on Pakistan and beyond for our own good.

 

[TopCat]

Just having casual meeting for photo session won't boast our trade. I have been seeing this kind of session many times and frankly fed up this BS.

Our trade will not increase unless we establish better communication between Pakistan and Bangladesh including people to people contact. We must reestablish direct shipping route instead using Dubai as a link which itself is a anti trade policy due to delivery time and cost. What confuse me is that how come, we don't have direct shipping service to Pakistan when bd was just part of united Pakistan some years ago.

Didn't we have direct route between two wings of pakistan that how hard is it to reestablish? Some one tell me...

We are contributing billions in enemy's economy instead of our west brother. Bharat being a selfish and arrogant nation will not allow our products to enter in its eastern market even though there are tremendous amount of popularity of our products there.

It will be a lot easier for bd's product to enter in Pakistani market and than central Asia. We should abandon trade with Bharat and concentrate on Pakistan and beyond for our own good.

Bangladesh and Pakistan produces same line of products. We do import some cotton and yarn. And export jute and tea. The other trade baskets are very minimal.
Regarding direct shipping route, yes there were talks and talks but end of the day whether that route is commercially viable or not. Businesses will only determine that.

 

[SeaGull]

Though I am in favor of the Deep sea port,but it won't reduce our trade imbalance to zero.

Am one on this with you and Iajdani - DEEP SEA PORT - much overdue. We could snatch some of the traffic from Singapore as a regional hub - Nepal is not allowed transit through India to us and beyond, but still we could allow India transit through Ctg given we could get our needs in return - what are those?
Ministries should be able to answer that better