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Pakistan, BD to share strengths for economic wellbeing

Pakistan, BD to share strengths for economic wellbeing

LAHORE: Pakistan and Bangladesh will share their respective sectoral strengths with each other for the economic wellbeing of the two countries.

This was agreed at a meeting between Bangladesh High Commissioner to Pakistan Suhrab Hussain and LCCI President Engineer Sohail Lashari. Honorary Consul General Qazi Humayun Fareed, SAARC CCI Vice President Iftikhar Ali Malik, former LCCI Vice President Saeeda Nazar, LCCI Executive Committee Members Khawaja Khawar Rashid, Mian Tasharraf Javaid, Raja Hamid Riaz, Mian Maqsood Butt, Muhammad Aslam Chaudhry, Muhammad Afzal and former EC member Rehmatullah Javed were also present in the meeting.

There was a consensus that the two countries should share their strengths and weaknesses with each other at govt-to-govt and chamber-to-chamber levels to create a win-win situation as far as two economies are concerned.

It was also decided that the BD High Commission would collaborate with LCCI for SAARC Exhibition being organised by the Lahore Chamber of Commerce and Industry in a few months time.

The Bangladesh High Commissioner, speaking on the occasion, stressed the need for a proactive collaboration between the private sectors of the two sides to give fresh impetus to bilateral trade and economic relations.

The High Commissioner urged Pakistani businessmen to take part in International Expo held in Bangladesh every year to further strengthen their liaison with their Bangladeshi counterparts. He said that both the sides can also initiate Joint Ventures in various sectors of the economy.

LCCI Engineer Sohail Lashari said that the Lahore Chamber of Commerce and Industry is planning to arrange a SAARC Exhibition in Lahore to further cement trade ties among these neighbouring countries.

He said that Pakistan and Bangladesh share a common religion, heritage, ethics and culture. He said that though trade between the two countries is growing progressively but more concrete steps are needed to enhance the economic ties.

He said SAARC nations are home to 21% of the world’s population but account for only 2% of the world GNP and share only 1.3% in the world’s total exports, 1% of global FDI inflows and 1% of global tourism receipts.