Pakistan and Bangladesh will re-operationalize the Joint Economic Commission, suspended during Sheikh Hasina's 2007 government.

Pakistan and Bangladesh are set to re-operationalize the Joint Economic Commission (JEC), which serves as the apex forum for discussing trade and commercial ties between the two countries. This decision marks a significant step in revitalizing bilateral relations, particularly after the JEC was suspended during Sheikh Hasina's government in 2007.

Background of the Joint Economic Commission​

• Purpose: The JEC aims to enhance economic cooperation by facilitating discussions on various sectors, including trade, investment, and commerce.
• Historical Context: The commission was initially established to foster economic ties but faced a hiatus due to political tensions and changes in leadership in Bangladesh.

Current Developments​

• Recent diplomatic engagements have highlighted the necessity of resuming the JEC's functions to strengthen economic relations. The Pakistan High Commissioner to Bangladesh emphasized the importance of revitalizing this mechanism during meetings with Bangladeshi officials.
• Both countries recognize the potential for increased trade, especially given their shared history and cultural ties. Efforts are underway to finalize a bilateral Free Trade Agreement (FTA), which would further enhance trade opportunities.

Future Prospects​

Re-establishing the JEC is expected to lead to more structured dialogues and initiatives aimed at boosting trade volumes, which have been relatively low compared to their combined population. The renewed focus on cooperation could open doors for investments and collaborative projects in various sectors, including textiles and agriculture, benefiting both economies.