For over four decades, the bilateral relations between Pakistan and Bangladesh have been cold. Although the entrepreneurs from Pakistan had been investing in the textile manufacturing industry of Bangladesh, being highly competitive with liberal export quota, but the bilateral relations between the two governments were limited to basic diplomatic norms all these years. The courtesy phone call by Prime Minister Imran Khan to Prime Minister Hasina Wajid was a highly important initiative on the part of Pakistan. Soon thereafter, Hasina Wajid reciprocated and Pakistan High Commissioner had a rare meeting with her at a short notice. The positive effects of these promising developments are now quite discernable.
At a meeting, last week, with Rawalpindi Chamber of Commerce and Industry (RCCI), the Bangladesh High Commissioner Ruhul Alam Siddique is reported to have stated that trade and other economic ties could help Pakistan and Bangladesh move forward. He stressed that Bangladesh attaches great importance to its relations with Pakistan and there are deep historic ties between the two countries. Highlighting the potential sectors, he said trade opportunities between Pakistan and Bangladesh could be explored in construction material, light engineering, surgical goods, sports goods, food processing, cotton yarn, tourism and pharmaceutical sectors. The BD high commissioner has added that trade balance between the two countries had always been in favour of Pakistan; it stood at $700 million where exports from Bangladesh to Pakistan were of hardly $50 million.
The warming up of relations between the two nations is a dramatic development. For decades the people from the two regions, as one nation, shared art, culture, music, cuisine and religion.
It is important to note that the recent visit of Prime Minister Imran Khan to Sri Lanka and the warmth with which he was received is an extremely significant development in the SAARC region. So far, SAARC countries have been succumbing to the dictates of India, whereas, the ongoing tension between Pakistan and India has rendered SAARC as a meaningless entity. Also, the bilateral relations between SAARC countries have so far been minimal. Lately, India’s shift towards saffron nationalism, ethnic and religious bias and uncalled-for conflicts with its neighbours have alienated many of them.
With SAARC ineffective, the warming up of bilateral relations between SAARC countries is a dramatic development to usher in an era of prosperity in the region. There is much to share in business, trade and collective security. Also, over the years China has made inroads into South East Asia and is now the economic and political power; the former ‘middle kingdom’ is now attracting the attention of every SAARC member state. Pakistan is in a good position to cash in on the given opportunities.
(The writer is former President Overseas Investors Chambers of Commerce and Industry)
Copyright Business Recorder, 2021