Karachi, 10 March 2023:

Bangladesh Deputy High Commissioner in Karachi, S. M. Mahbubul Alam addressed at the Karachi Chambers of Commerce and Industries at its Headquarters in Karachi on 9 March 2023. Mr. Muhammad Tariq Yousuf, President of the KCCI, Mr. Touseef Ahmed, KCCI Senior Vice President, Mr. Zia ul Arfeen, Chairman of KCCI Diplomatic Missions and Embassies Liaison Sub-Committee, and KCCI Managing Committee Members and other eminent industrialists, entrepreneurs, investors, and businessmen in Pakistan were present at the program.

Deputy High Commissioner explained in details the potential of trade and commerce and investment in Bangladesh. He elaborated on the exclusive facilities and incentives Bangladesh offers for foreign investment. He further mentioned that Bangladesh has been working hard to establish 100 Specialized Economic Zones (SEZs) with foreign investment-friendly policies across the country. Foreign investors are being attracted to invest in Bangladesh and few countries have already established their industries SEZs in Bangladesh. Deputy High Commissioner briefed that the electricity generation in Bangladesh was only 4,000MW in 2009 which is currently over 25,000MW and Bangladesh has already achieved 100% electricity coverage across the country. He further mentioned that the ‘Digital Bangladesh’ initiative has stimulated transformative impacts on industrialization, and on socio-economic development, education, disaster risk reduction, and women’s empowerment in Bangladesh. Deputy High Commissioner also highlighted on different mega projects in Bangladesh such as Padma Bridge, Metro Rail, Bangabandhu Tunnel under Karnaphuli River, Rooppur Nuclear Power Plant, Deep-Sea Port, Bangabandhu Satellite-1, and other vital completed and on-going projects. He also detailed on the smooth communication networks across Bangladesh because of constructions and widening and modernizing of hundreds of bridges and thousands of kilometers of road and railways across the country. 

Deputy High Commissioner apprised the prominent entrepreneurs and businesspersons in Pakistan that Bangladesh is now among the five fastest growing economies in the world, ranking 35^th in terms of GDP. He added that the per capita income of Bangladesh is USD2,824 and the income and purchasing power of the people of Bangladesh including those living the rural areas have increased. Bangladesh has been working to make all the civic amenities available in the villages. He added that Bangladesh is a huge pool of relatively cheaper manpower and Bangladesh herself is a big market. All these bespeak the potential of trade and investment in Bangladesh. Deputy High Commissioner invited the businessmen to explore the potential of trade and commerce and investment in Bangladesh.  During his speech at the KCCI, Deputy High Commissioner invited the potential investors, industrialist, entrepreneurs and businesspersons from Pakistan to invest in Bangladesh and to import products from Bangladesh. He also invited business delegation from Pakistan to visit Bangladesh and to engage with their counterparts and businessmen and business organizations in Bangladesh including the FBCCI.

The KCCI office bearers expressed their deep appreciation to know the success stories of Bangladesh. They were impressed to the recent development of Bangladesh. They also expressed their willingness to invest in Bangladesh and do more business with Bangladesh.

The KCCI President Mr. Muhammad Tariq Yousuf in his remarks he commented on the possibility of a Free Trade Agreement (FTA) between Bangladesh and Pakistan and said that the proposed FTA would be of huge importance to boost the existing trade volume between the two countries. He further stressed on the reduction of tariffs and elimination of non-tariff barriers (NTBs) gradually for the mutual economic benefits. KCCI President further commented that easing of visa regime particular for the businessmen and business delegation from both the countries is crucial to enhance business activities and economic relationships and to foster cooperation, trade, and people-to-people contact between the two countries. The KCCI President also attached importance to explore the possibility of a direct shipping line to promote bilateral trade. He also attached importance to improve air and maritime linkages between two countries. He expressed his optimism that businessmen from both the countries could undertak joint ventures in various potential sectors, such as agriculture, food processing, textile, real estate, cement, energy and IT sectors. KCCI President further attached importance to explore mutual cooperation in blue economy which has tremendous potential at the coastal belts and the respective Exclusive Economic Zones (EEZ) of Bangladesh and Pakistan.

 Bangladesh Deputy High Commission in Karachi S. M. Mahbubul Alam assured the leading businesspersons in Pakistan and businessmen from KCCI to extend all possible cooperation for greater trade and commerce and economic relations between the two counties.