Dhaka (TDI): The 9th Session of the Pakistan-Bangladesh Joint Economic Commission (JEC) was convened on Monday, after a hiatus of 20 years, as both countries are opening up to each other since the fall of the previous government in Dhaka, last year.
The JEC made an important milestone in the resumption of bilateral economic and development cooperation between the two South Asian countries.
The meeting was co-chaired by Ali Pervaiz Malik, Pakistan’s Federal Minister for Petroleum, and Dr. Salehuddin Ahmed, Bangladesh’s Advisor for Finance.
At the conclusion of the session, both sides signed the agreed minutes of this 9th session of JEC. An MoU on Cooperation in Halal Trade between the Pakistan Halal Authority and the Bangladesh Standards and Testing Institute was also signed.
Both sides agreed to explore a concessionary trade arrangement and reaffirmed commitment towards better trade, agricultural and industrial cooperation to promote sustainable and inclusive growth.
The meeting recognized progress in multiple areas of mutual interest, including trade, investment and industries, agriculture, transport and communications, education, information technology, banking, health, and tourism; among others.
Read More: Pakistan, Bangladesh Boost Defense Diplomacy During CJCSC’s Visit
Pakistan also highlighted the establishment of the Pakistan-Bangladesh Knowledge Corridor, which includes an offer of 500 new and fully funded scholarships for Bangladeshi students. Furthermore, Pakistan has increased the number of training slots under the Pakistan Technical Assistance Program from 5 to 25.
The two sides emphasized the importance of enhancing cooperation between the national shipping corporations, with Pakistan offering the use of Karachi Port Trust as a gateway for Bangladesh’s trade with regional countries, including China and the Central Asian States.
The two countries also agreed to work actively toward establishing direct air connectivity, recognizing its vital role in promoting tourism and business exchanges.
Both sides agreed to cooperate in the areas of medical and religious tourism, and to promote greater cultural exchanges between the two countries.
It was decided to organize the inaugural meeting of the Joint Working Group on Trade. It was also discussed to establish Joint Working Groups in key sectors such as maritime affairs, and information technology, which will hold regular meetings to ensure sustained progress.
Established in December 2008, The Diplomatic Insight is Pakistan’s premier diplomacy and foreign affairs magazine, available in both digital and print formats.
