Pakistan-Bangladesh Trade Crosses $1Billion

by The House
Published: Last Updated on

After Independence, Pakistan was divided into two parts; East and West Pakistan. The East Pakistan is what we now know as Bangladesh.

Pakistan, Bangladesh, Trade, Business

Two Sides yet Same Coin

The founding basis of West Pakistan was parliamentary democracy and, a republic form of government in 1947, with Islam as its state religion. On the other hand, East Pakistan was founded on the basis of a social state in the 1945 elections, with secularism proclaimed. In March 2021, the prime minister of Pakistan wrote a congratulatory letter to Sheikh Hasina the prime minister of Bangladesh. An extension of an olive patch was also given to Bangladesh. This was in order to “Bury the Hatchet ” on the long reign of violence between 2 countries.

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$1 Billion Trade Mark

The joint trade between Pakistan and Bangladesh has been rising at a fast pace. Interestingly, by the end of this year, it’ll reach $1 billion. Both Pakistan and Bangladesh have the potential for trade. But  it’s possible only if they can cooperate and harness the skills and capabilities of their resources and manpower. Bangladesh’s envoy stated that the country has the resolution of cooperating with Pakistan within the area of meals processing, dairy, and textile. This has shown that Bangladesh hasn’t been effectively producing cotton, but they are the 2nd largest garment exporter to china.

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The envoy stated that there is a need for greater manpower for its textile sector. In order for Bangladesh to further develop it needs to be able to access Pakistan’s markets. Thus the reactivation of the South Asian Association for Regional Cooperation and South Asian Free trade Area is necessary. This trade has resulted in exports between Pakistan and Bangladesh improving at a high rate with Pakistani exports at 48% and Bangladesh at 14%. With these rates the communication of both countries will improve.

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