BGMEA seeks removal of trade barriers with Pakistan

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) called for removing logistics and shipping barriers through cooperation between Bangladesh and Pakistan to strengthen bilateral trade and economic ties.

BGMEA President Mahmud Hasan Khan made the call during a meeting with Pakistan High Commissioner to Bangladesh Imran Haider at the association’s office in Uttara, Dhaka, on Sunday.

The meeting focused on ways to deepen bilateral trade and economic relations, with both sides noting that the significant trade potential between the two countries remains largely untapped.

They also stressed the need for a more balanced trading relationship. Bangladesh imports a substantial volume of goods from Pakistan, including raw materials used by the apparel industry, while its exports to the Pakistani market remain relatively low.

Bilateral trade stood at $689.76 million in FY24, according to Export Promotion Bureau data. Bangladesh exported goods worth $61.98 million to Pakistan while importing $627.78 million, resulting in a trade deficit of $565.80 million.

The two sides stressed the importance of exchanging high-level business delegations to explore new opportunities and expand bilateral trade.

To strengthen economic cooperation, the BGMEA president emphasised increasing imports of chemicals and dyes from Pakistan for Bangladesh’s apparel industry.

At the same time, he urged Pakistan to increase imports of Bangladeshi products, particularly jute yarn and pharmaceuticals, to help narrow the trade imbalance.

The high commissioner expressed interest in the proposals and assured the BGMEA president of support for measures aimed at facilitating bilateral trade.

He also reaffirmed Pakistan’s commitment to cooperation in Bangladesh’s industrial and commercial development, highlighting the close ties between the two countries.

The high commissioner proposed student exchange programmes, knowledge-sharing initiatives and technical collaboration between BGMEA University of Fashion & Technology (BUFT) and leading fashion and textile institutes in Pakistan.

He also called for joint initiatives to promote innovation and technological advancement in the textile sector.

The envoy said that if a delegation of Bangladeshi exporters from the ready-made garment and other sectors visited Pakistan, the High Commission would facilitate business-to-business meetings and matchmaking sessions with Pakistani importers, brands, buyers and business associations.

Such initiatives could help Bangladeshi exporters establish and expand business relationships in the Pakistani market, he said.

The two sides also discussed market opportunities and strategies for improving market access in both countries.

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Bangladesh currently enjoys preferential market access under the South Asian Free Trade Area (SAFTA) as a least developed country.

However, its scheduled graduation from LDC status is expected to change some of the trade preferences it currently enjoys.

Against this backdrop, the two sides held preliminary discussions on the possibility of a bilateral preferential or free trade arrangement between Bangladesh and Pakistan to maintain trade flows and address challenges arising from Bangladesh’s post-LDC transition.