B’desh to revitalise joint commission on trade with Pak

Dhaka: The Bangladesh interim government on Thursday decided to revitalise a joint economic commission and form a new trade and investment commission with Islamabad during Pakistan commerce minister’s visit here.

Talking to reporters after a meeting with Pakistan Commerce Minister Jam Kamal Khan, Bangladesh’s Commerce Adviser Sheikh Bashir Uddin said the interim government simultaneously sought Pakistan to withdraw its anti-dumping duties on hydrogen peroxide exports.

“We had very intensive discussions. We are working on reactivating the Joint Economic Commission (JEC) and forming a new Trade and Investment Commission,” Uddin said. He said the existing JEC between the two countries was not “so operational” over the years and thus both sides agreed to take steps to revitalise it.

The adviser said if Bangladesh and Pakistan jointly, or through foreign investment, could produce intermediate goods, it would be mutually beneficial for both the countries. Uddin said Bangladesh imports goods worth USD 80 billion annually, of which USD 15 billion consists of food and intermediate products.

“Pakistan has imposed anti-dumping duties on our hydrogen peroxide exports. We have requested the withdrawal of that duty, and they have given assurances. We also sought their support in developing our leather and sugar industries,” he said. Uddin said Bangladesh once enjoyed a duty-free quota of 10 million kilograms of tea exports to Pakistan, and Dhaka has requested the reinstatement of that facility as well.

“There is ample opportunity to expand trade in these products between the two countries. That is why a new Trade and Investment Commission is being formed,” he said. agencies