Trade between Pakistan and Bangladesh has crossed the $1 billion mark, with both countries showing interest in expanding commerce across multiple sectors. Bangladesh’s High Commissioner to Pakistan, Muhammad Iqbal Hussain Khan said.
The high commissioner, who recently assumed office, described his visit as productive, emphasizing the strong demand for Pakistani goods in Bangladesh, including cotton, sugar, rice, apparel, and mangoes.
Likewise, Bangladesh sees Pakistan as a promising market for its exports, particularly pineapples, jute, pharmaceuticals, and garments. He highlighted the potential for further strengthening economic ties, especially as trade between the two nations has resumed after a gap of over 15 years.
In a significant development, Pakistan has shipped 26,000 metric tons of rice to Bangladesh through its national carrier, marking the first such export in nearly two decades. The total export commitment stands at 50,000 metric tons, with the remaining 24,000 metric tons set for delivery next month.
The Trading Corporation of Pakistan (TCP) invited bids in December after Bangladesh Trading Corporation (BTC) expressed interest in purchasing rice on a government-to-government basis. In response, a tender was issued for 50,000 metric tons of long-grain white rice (IRRI-6) and 50,000 metric tons of non-basmati parboiled rice. When the tender opened on January 6, 11 bids were received for long-grain white rice, with price offers ranging from $498.40 to $523.50 per metric ton. However, no bids were submitted for non-basmati parboiled rice, leading to the issuance of a fresh tender.
A new tender, with a deadline of February 27, allows interested companies to file expressions of interest for supplying rice to Bangladesh. The agreement specifies that 60% of the rice will be delivered to Chattogram Port and 40% to Mongla Port, routed through Karachi Port. The shipments will be in break bulk cargo, with rice packed in 50-kilogram polypropylene woven bags.
