Karachi Chamber of Commerce and Industry (KCCI) urged Bangladesh to materialise the the Free Trade Agreement (FTA) without any further loss of time, said the Daily Times based in Pakistan.
Haroon Farooki, president of KCCI made the call while talking to a delegation of Bangladesh parliament members Tuesday.
He said there were many other agreements which had been signed between the two countries but their effective implementation in many areas was lacking. He informed the delegation that they should assist their government in implementing all the agreements including signing of FTA between the two countries.
He also said the volume of trade between the two countries was not more than 12 to 13 per cent, and bilateral trade has yet to achieve a major breakthrough. He said there were possibilities of setting up joint ventures in many sectors including textiles, pharmaceuticals, leather, chemicals, IT, engineering goods and fertilisers etc.
Farooki extended invitation to Bangladesh entrepreneurs to participate in KCCI's Karachi Exhibition 2006.
Salahuddin Quader Chowdhry, adviser to prime minister of Bangladesh on parliamentary affairs, said there was a great scope of economic ties between the two countries and particularly in textile exports as Paksitan was a major exporter of textile yarn and Bangladesh was exporting value added textiles like readymade garments and is still enjoying preferential status from EU.