Lahore: In a significant move to strengthen trade and economic ties, the interim government in Bangladesh has simplified the visa process for Pakistani nationals. This development is aimed at promoting closer collaboration between the two countries.
According to Bangladesh’s High Commissioner to Pakistan, Iqbal Hussain, the government has removed the requirement for clearance from Dhaka for Pakistani heads of missions when issuing visas. Hussain made this announcement during a meeting with the business community at the Lahore Chamber of Commerce and Industry on Saturday.
Strengthening Trade and Investment Between Pakistan and Bangladesh
Hussain emphasized that increasing trade and investment between Bangladesh and Pakistan should be a priority for both nations moving forward. He highlighted Bangladesh’s large consumer market, with a population of 180 million, as an untapped opportunity for Pakistan to expand its trade relations.
The High Commissioner also praised the interim government, led by Chief Adviser Mohammad Yunus, for its efforts to improve bilateral relations, which have been less than satisfactory in recent years. He urged both countries to capitalize on the vast trade potential that remains largely untapped.
Revitalizing SAARC and Enhancing Regional Cooperation
Furthermore, Hussain emphasized the importance of revitalizing the South Asian Association for Regional Cooperation (SAARC) to enhance regional cooperation and trade. He noted that, despite global efforts towards regional cooperation, South Asia continues to face challenges that require collective action.
Collaboration in Times of Crisis
Reflecting on the lessons from the COVID-19 pandemic, Hussain stressed the need for international collaboration, stating, “Nations must work together in times of crisis to ensure the smooth flow of trade.”
Positive Growth in Bilateral Trade
In the same meeting, Lahore Chamber of Commerce and Industry (LCCI) President Mian Abuzar Shad shared the latest trade data, revealing that the two-way trade between Pakistan and Bangladesh reached USD 718 million in the fiscal year 2023-24, indicating potential for even greater growth.
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The easing of the visa process and the growing focus on bilateral trade are expected to foster closer economic ties between Pakistan and Bangladesh, contributing to the development of both nations.