Special Correspondent: Bangladesh and Pakistan have agreed to revitalize the existing Joint Economic Commission (JEC) alongside setting up a new Trade and Investment Commission to explore further the trade and investment potentials of the two countries.

Commerce Adviser Sk. Bashir Uddin informed this while addressing a press briefing after visiting Federal Commerce Minister of Pakistan Jam Kamal Khan met him at his office at Bangladesh Secretariat on Thursday.

He mentioned that a very intensive discussion was held between the two sides covering a wide array of issues ranging from trade, commerce, food, agriculture, industrial production in a bid to enhance the trade and economic capacity of both the countries.

Bashir said that the meeting was discussed on cooperation relating to the improvement of food and agricultural products, attracting investment in the form of joint venture or FDI in production of intermediary industrial goods, import and export of fruits, export of pineapple to Pakistan, mechanization and comparative sourcing in the agriculture sector.

Besides, he said that they also discussed the issue of mutual acceptance of certificates and standards and sought support from Pakistan towards improving the leather and sugar industries of Bangladesh.

Bashir said that Bangladesh has also requested the Pakistan side to withdraw anti-dumping duty on export of hydrogen peroxide to Pakistan as well as restoring Duty Free Quota Free access of exporting up to 1 crore kgs of tea to Pakistan from Bangladesh.

Asked about the rationality of forming a new Trade and Investment Commission between the two countries, the Commerce Adviser said that there are huge potentials for boosting trade and commerce between Bangladesh and Pakistan.

Citing that Bangladesh imports around $80 billion of commodities per year including $15 billion of food items, he said that if the country could import at competitive prices from countries like Pakistan alongside other countries and thus could save foreign currencies, then it would be beneficial for Bangladesh where such Trade and Investment Commission can play a role.

Responding to a question, he said that the Pakistan side has agreed in all aspects with Bangladesh during the meeting and thus has given assurance of considering the matters.

Bashir told another questioner that the interim government has been working relentlessly keeping intact the interests of Bangladesh while they would do whatever necessary to uphold the dignity and thus protecting the interests of the country.

Commerce Secretary Mahbubur Rahman said that the meeting was held in a very cordial atmosphere where the issue of minimizing the existing trade gap got significance.

He said that Bangladesh welcomes increasing trade relations with Pakistan alongside import of food items, stones and minerals from Pakistan if it is competitive and done protecting the interests of both the countries through a good neighborhood manner.

Responding to a question, he said that the existing Joint Economic Commission (JEC) between the two countries was not so operational over the years and thus both the countries have agreed to take steps to revitalize it.