Pakistan, Bangladesh rekindle economic ties after 20 years

ISLAMABAD: Pakistan and Bangladesh have revived their long-stalled economic partnership after two decades, agreeing to expand cooperation in trade, investment, and regional connectivity during the 9th Joint Economic Commission (JEC) meeting held in Dhaka.

The session — the first since 2005 — was co-chaired by Ali Pervaiz Malik, Pakistan’s Federal Minister for Petroleum, and Dr. Salehuddin Ahmed, Adviser for Finance to the Government of Bangladesh. Both sides signed the Agreed Minutes of the JEC, which outlined broad cooperation in trade, energy, industry, agriculture, education, health, tourism, IT, and climate change.

A major breakthrough came with the signing of a Memorandum of Understanding on Halal Trade Cooperation between the Pakistan Halal Authority and the Bangladesh Standards and Testing Institute, opening new opportunities for joint certification and exports of Halal products to global markets.

In a significant offer to strengthen logistics links, Pakistan proposed the use of Karachi Port Trust (KPT) as a regional trade gateway for Bangladesh’s commerce with China and Central Asian countries. Both countries also agreed to work toward establishing direct air connectivity, seen as crucial for boosting tourism and business exchanges.

Pakistan announced the creation of a Pakistan-Bangladesh Knowledge Corridor, including 500 fully funded scholarships for Bangladeshi students, along with an expansion of technical training slots under the Pakistan Technical Assistance Program from five to 25.

The two sides agreed to enhance cooperation in medical and religious tourism, promote cultural exchanges, and set up Joint Working Groups on trade, maritime affairs, and information technology to ensure sustained collaboration. A Joint Working Group on Trade will meet soon to explore a concessionary trade arrangement and mechanisms for facilitating two-way commerce.

The meeting, held in a spirit of friendship and mutual respect, reaffirmed the shared commitment of both nations to deepening economic integration and regional stability. Federal Minister Ali Pervaiz Malik thanked the Government of Bangladesh for its hospitality, expressing optimism that the renewed engagement would pave the way for a new era of Pakistan-Bangladesh economic cooperation.