"We have invited Bangladesh to participate in full stream in the Exhibition 'My Karachi 2006', and we are positive that they are going to exhibit Bangladesh Pavilion in one of the main halls of Expo Centre, Karachi," said Haroon Farooki.
President, KCCI, in a meeting with Muhammad Nurul Amin, Secretary, Ministry of Industries, Bangladesh, at Pearl Continental, Karachi, on Thursday May 18 2006.
He said that Karachi Chamber had set up a large pavilion in Dhaka International Trade Fair in December 2005 and now it is the turn of Bangladesh to come to display their quality goods in Karachi.
Abdul Hannan, Deputy High Commissioner of Bangladesh in Karachi, endorsed the idea that Bangladesh would certainly be having a good opportunity to introduce their products in Pakistan market by largely participating in Exhibition 'My Karachi 2006', and should set up a big pavilion as 'Single-Country Pavilion'.
Welcoming Nurul Amin, the KCCI chief said that trade volume between Pakistan and Bangladesh was not commensurate with the relations between the two countries, and setting up of joint ventures by businessmen of the two countries was necessary to enhance trade and to rectify the trade balance.
Leather, textile fabrics, light engineering and active pharma industry are the sectors where the businessmen of the two countries can set up joint ventures, both in Pakistan and Bangladesh.
Siraj Kassam Teli also spoke on the occasion and said that business between the Saarc countries is only 5 percent whereas the business between the European countries is more than 70 percent and between the Asean countries is about 26 percent. The geo-political differences are causing great deal of hindrance in expanding business between the Saarc countries, "and now we have to consider direct agreement of free trade between Pakistan and Bangladesh".
Nurul Amin said that Bangladesh, being a small economy and surrounded by big economies, has to sustain by increasing trade relations with other Asian countries, including Pakistan. "We are, indeed, happy on the invitation extended by Karachi Chamber to participate in the exhibition 'My Karachi 2006'." He said that in Exhibition 'My Karachi 2005', Bangladesh exhibitors had participated, "and this year we will try that greater number of exhibitors from Bangladesh participate in the exhibition".
He said that Bangladesh has adopted a new industrial policy in 2005 and now equal rights are provided to investors, may it be a local investor or a foreign investor. Infrastructure facilities are available in Bangladesh and power and gas charges are comparatively low in Bangladesh. Foreign investors have facility to repatriate at any time the money invested by them and profit earned on investment, except for some moderate resource areas.
'Shoe uppers' of cow hides or goatskins are very much in demand in the European market and joint venture to establish shoe upper manufacturing units are very feasible in Bangladesh.
Responding to the suggestion of early signing of FTA by the two countries, Nurul Amin said that the Prime Minister of Bangladesh has given consent to the signing of FTA, and the modalities of the agreement were being examined and devised by the concerned ministries of the two countries.
Abdul Hannan: "We need to identify the common grounds for doing business, like textile, pharma, leather and light engineering, and should work out how to enter into joint ventures in these fields."-PR
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