Pakistan-Bangladesh trade volume to soon touch $1bn: envoy

[Black_cats]

Pakistan-Bangladesh trade volume to soon touch $1bn: envoy​

Business
Our Correspondent
June 17, 2022

KARACHI: High Commissioner of Bangladesh to Pakistan, Rahul Alam Siddique on Thursday said bilateral trade between Pakistan and Bangladesh has been increasing sharply and would likely touch $1 Billion

KARACHI: High Commissioner of Bangladesh to Pakistan, Rahul Alam Siddique on Thursday said bilateral trade between Pakistan and Bangladesh has been increasing sharply and would likely touch $1 billion soon, which would be a major milestone.

He said this milestone would be celebrated at the Bangladeshi High Commission in Islamabad and Deputy High Commission in Karachi.

Exchanging views at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI), the envoy said the current bilateral trade volume has increased to around $900 million and it continues to rise at a faster pace.

“Pakistan’s exports to Bangladesh have risen by 48 percent while exports from Bangladesh to Pakistan appreciated by 14 percent, which is a good sign,” he said, hoping that the rising trend continues in the days to come, which would be very encouraging for the business communities of both countries.

Highlighting the progress, development and achievements of Bangladesh during the last 50 years of existence, he said that his new born country faced many challenges after creation in 1971 when forex reserves were zero and poverty level was over 82 percent.

“During the last 50 years, Bangladesh achieved many goals under its Vision 2021 programme and now the total exports of the country have crossed $50 billion. Bangladesh was number one country in jute production, second in readymade garments exports, third in fish exports, and fourth in rice production and tomato production in the world,” he said. He further stated that Bangladesh has achieved the status of developing country from its previous level of least developed country. Bangladesh has also achieved remarkable progress in socio-economic sectors and has been transformed into one of the vibrant economies of the world due to visionary leadership, resilient people and political stability.

General Secretary BMG AQ Khalil appreciated the efforts being made by the Bangladeshi government towards improving trade and investment ties with Pakistan.

He was of the view that Pakistan must learn from the history and experience of Bangladesh.

“Bureaucratic hurdles were one of the most serious issues being suffered by Pakistan. Hence, we must learn how Bangladesh dealt with its bureaucracy and adopt the same strategy,” he added.

Pakistan-Bangladesh trade volume to soon touch $1bn: envoy

KARACHI: High Commissioner of Bangladesh to Pakistan, Rahul Alam Siddique on Thursday said bilateral trade between Pakistan and Bangladesh has been increasing sharply and would likely touch $1...

www.thenews.com.pk

 

[Homo Sapiens]

Like India, China and most of Asian countries, this trade with Pakistan is also heavily skewed in favor of Pakistan. Like in tune of 10:1. The main reason obviously being Bangladesh export few goods other than Garments which most Asian countries do not need from Bangladesh. Unless we diversify our export baskets, this imbalance will not stop.

 

[UKBengali]

Pakistan is a source of cheap raw materials and foodstuffs for BD.

Cannot see it becoming a valuable market for BD exports in areas like home electronics and pharma as it will just remain too poor with it's very low per capita GDP growth.

It has a good chance of exporting many billions a year to BD by 2030 if it can provide the right products that BD economy needs.

 

[UKBengali]

^^ Laugh 'emoti' icon from a poster who is from an economically failed nation after SEVENTY FIVE YEARS of independence.

Reality will hit these types like a ton of bricks very soon. BD is on a totally different level economically and only 24 years less of independence has hampered it till now.

Pakistan has a good chance to grab a good share of the massive market for raw materials and foodstuffs that will open up in BD from 2030 onwards.

 

[Destranator]

"And do not turn your cheek [in contempt] toward people and do not walk through the earth exultantly. Indeed, Allāh does not like everyone self-deluded and boastful."

Quran 31:18

Surah Luqman - 18 - Quran.com

ولا تصعر خدك للناس ولا تمش في الارض مرحا ان الله لا يحب كل مختال فخور

quran.com

 

[Khan_21]

^^ Laugh 'emoti' icon from a poster who is from an economically failed nation after SEVENTY FIVE YEARS of independence.

Reality will hit these types like a ton of bricks very soon. BD is on a totally different level economically and only 24 years less of independence has hampered it till now.

Pakistan has a good chance to grab a good share of the massive market for raw materials and foodstuffs that will open up in BD from 2030 onwards.

There is this chinese poster beijing walker who cant stop his chinese propaganda and on BD side its you.

The chinese propaganda I can still get my head around but contant propaganda from a poster whos country cannot build a half decent forum and has to come to a pk forum to discuss issues is laughable.

Yes BD is on another level we all get it. Now do you want me to post pictures of your wonderful cities and than ours? At this rate your posts are like a broken tape recorder.

 

[UKBengali]

There is this chinese poster beijing walker who cant stop his chinese propaganda and on BD side its you.

The chinese propaganda I can still get my head around but contant propaganda from a poster whos country cannot build a half decent forum and has to come to a pk forum to discuss issues is laughable.

Yes BD is on another level we all get it. Now do you want me to post pictures of your wonderful cities and than ours? At this rate your posts are like a broken tape recorder.

Dude, see how this started.

I just said that Pakistan will remain too poor for BD to push it's home electronics and pharma products to it and one of your countrymen put on a laugh "emoti" icon on the post.

It could become a big exporter for raw materials and foodstuffs to BD by 2030 as the BD market expands massively by then. That is a massive opportunity for Pakistan and displacing some of the exports from India at the same time.

Don't believe me then listen to ADB:

Bangladesh: Economy

The current and projected economic growth in Bangladesh, compared with other developing countries in South Asia.

www.adb.org

This is normal differential between BD and Pakistan we have seen for past 2 decades with a 4% difference per capita growth difference between the two countries. In 15 years BD relatively will grow its per capita twice that of Pakistan.

 

[Bilal9]

Pakistan is a source of cheap raw materials and foodstuffs for BD.

Cannot see it becoming a valuable market for BD exports in areas like home electronics and pharma as it will just remain too poor with it's very low per capita GDP growth.

It has a good chance of exporting many billions a year to BD by 2030 if it can provide the right products that BD economy needs.

There is no need to deride (or write off) Pakistan without exploring potential avenues of trade.

Dude, see how this started.

I just said that Pakistan will remain too poor for BD to push it's home electronics and pharma products to it and one of your countrymen put on a laugh "emoti" icon on the post.

It could become a big exporter for raw materials and foodstuffs to BD by 2030 as the BD market expands massively by then. That is a massive opportunity for Pakistan and displacing some of the exports from India at the same time.

Don't believe me then listen to ADB:

Bangladesh: Economy

The current and projected economic growth in Bangladesh, compared with other developing countries in South Asia.

www.adb.org

View attachment 854581


This is normal differential between BD and Pakistan we have seen for past 2 decades with a 4% difference per capita growth difference between the two countries. In 15 years BD relatively will grow its per capita twice that of Pakistan.

Present performance is no guarantee for future performance. Pakistan is going through a tough spot, because of US and IMF imposed hardships and bad governance. It will not stay that way forever. No need to deride Pakistan and Pakistanis as a group.

Why would one have an axe to grind against a whole country after fifty years? None of the folks here were adults in 1971 - if alive at all....

 

[Wergeland]

There is no need to deride (or write off) Pakistan without exploring potential avenues of trade.



Present performance is no guarantee for future performance. Pakistan is going through a tough spot, because of US and IMF imposed hardships and bad governance. It will not stay that way forever. No need to deride Pakistan and Pakistanis as a group.

Why would one have an axe to grind against a whole country after fifty years? None of the folks here were adults in 1971 - if alive at all....

If anything Bangladeshi and Pakistani geostrategic interests overlap in many areas.

 

[Wood]

Cannot see it becoming a valuable market for BD exports in areas like home electronics and pharma as it will just remain too poor with it's very low per capita GDP growth.

What do you mean? You think majority of Pakistanis cannot even afford a TV or fridge? It is more likely the case that BD products cannot compete with tariff free imported Chinese goods in Pakistani market.

 

[El Sidd]

The propagated myth of Bangladeshis being humble people and their economy will not sustain itself.

 

[UKBengali]

What do you mean? You think majority of Pakistanis cannot even afford a TV or fridge? It is more likely the case that BD products cannot compete with tariff free imported Chinese goods in Pakistani market.

Yes exactly.

BD needs majority to be able to afford a TV/fridge rather than minority like now.

GDP per capita is predicted to crawl at 2-3% a year over the medium term like it has done over the last 20 years.

The market in Pakistan is just too small to bother with frankly.

PS - I do not know about the durability of Chinese products but BD's Walton offers a 5 year guarantee on it's TV panels and it's prices are not that much cheaper than Samsung/LG these days.

 

[KaiserX]

Yes exactly.

BD needs majority to be able to afford a TV/fridge rather than minority like now.

GDP per capita is predicted to crawl at 2-3% a year over the medium term like it has done over the last 20 years.

The market in Pakistan is just too small to bother with frankly.

First focus on making sure your country doesnt sink into the ocean in next 20 years before worrying about Pakistani people.

Pakistani middle class is still alot more wealthy and has more purchasing power than BD middle class. Go to islamabad, lahore, Karachi or peshawer and the infrastructure puts BD to shame.

 

[Maula Jatt]

First focus on making sure your country doesnt sink into the ocean in next 20 years before worrying about Pakistani people.

Pakistani middle class is still alot more wealthy and has more purchasing power than BD middle class. Go to islamabad, lahore, Karachi or peshawer and the infrastructure puts BD to shame.

Ignore him, little boy energy

Pakistan Mouza (rural) Census 2020

PBS released report of rural villages census 2020 https://www.pbs.gov.pk/sites/default/files//agriculture_statistics/publications/mouza_census_2020/Mouza_Census_2020_Country_Report.pdf

defence.pk

over 55% of Pakistan is considered middle class by world standards and that was literally 5-7 years ago

https://www.iba.edu.pk/testibaicm2014/parallel_sessions/ConsumerBehaviorCulture/TheEmergingMiddleClassPakistan.pdf

 

[Wood]

Yes exactly.

BD needs majority to be able to afford a TV/fridge rather than minority like now.

GDP per capita is predicted to crawl at 2-3% a year over the medium term like it has done over the last 20 years.

The market in Pakistan is just too small to bother with frankly.

PS - I do not know about the durability of Chinese products but BD's Walton offers a 5 year guarantee on it's TV panels and it's prices are not that much cheaper than Samsung/LG these days.

I disagree with the notion that Pakistani market is too small for regular home electronics. Perhaps 30 or 40 years ago, many households in South Asia could have had trouble buying TVs without EMIs etc. But now the affordability of basic home electronics is not so bad. If you tell me that Pakistan is not a significant market for Tesla cars, then yes - I would have agreed with that likelihood.

It would be interesting if Pakistani members here can tell us what brand of home electronics is dominating their market. I'm guessing Chinese brands would find this market very lucrative.