|
Bangladesh will attend a trade fair in Karachi of Pakistan in June this year to promote its products in the potential market, reports UNB.
Export Promotion Bureau (EPB) vice chairman Mir Shahabuddin Muhammed Thursday assured the visiting delegation from Karachi Chamber of Commerce and Industry (KCCI) of the market promotion drive at a meeting at the EPB office in the city.
"The EPB will participate with Bangladeshi products and will try to organise the private sector," he said and also assured them of taking a business delegation from Bangladesh to Pakistan.
The 3-day fair titled 'My Karachi' is scheduled to be held from June 24.
The KCCI delegation, led by its president Khalid Firoz, requested the EPB vice chairman to organise Bangladeshi manufacturers to participate in the fair, as part of an effort to reduce Bangladesh's trade deficit with Pakistan.
Of the very insignificant bilateral trade, Bangladesh suffers a deficit of about US$ 20 million with the country's imports from Pakistan totaling US$ 65 million against exports of US$ 45 million in fiscal 2003-2004, according to official figures.
In the backdrop of the trade deficit, EPB vice chairman Shahabuddin called upon the KCCI delegation to pursue their government to allow duty-free access of Bangladeshi products so that Bangladesh can increase its exports to Pakistan and reduce the deficit.
He pointed out the case of betel leaf that requires Pakistan currency of Rs 110 per kg as import duties.
Shahabuddin invited the Pakistan delegation to have a look at the state-of-the-art pharmaceutical industry in Bangladesh and requested them to import drug for their US$264 million import market. He requested them to pursue their drug administration to simplify licensing procedure for the Bangladeshi manufacturers.
The EPB vice chairman also invited Pakistani entrepreneurs to invest in Bangladesh's ceramic industry, which cannot meet the huge international market demand.
Responding to Bangladesh's call, KCCI president Khalid Firoz said 'We would like to join hands with Bangladesh to complement to the Bangladesh's RMG exports,' expressing their interest in having joint venture projects in textile and clothing sector.
The KCCI president stressed the need for having a Bangladesh-Pakistan free trade deal, which, he said, would help remove the trade barriers as well as boost bilateral trade.
He added that the shipping and cargo problems would be removed with the increase of business.
Pakistan expressed their investment interest in Bangladesh's telecommunication, textiles, light engineering, ceramic and pharmaceutical industries.
|