CHITTAGONG, BANGLADESH, November 21, 2024: In a significant development for Pakistan-Bangladesh trade relations, a Pakistani cargo ship has arrived at Chittagong Port after a long hiatus.
This marks a promising step towards strengthening the economic ties between the two nations, signaling a potential shift in their bilateral relations.
Bangladesh, which was formerly known as East Pakistan, gained independence in 1971, with Pakistan officially recognizing it as a sovereign state in 1974.
Over the years, the relationship between the two countries has been strained, especially during the era of Prime Minister Sheikh Hasina’s pro-India policies.
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This led to a communication vacuum between the nations.
However, with the recent rise of an interim government supported by a student-led movement, efforts to normalize relations have gained momentum.
The cargo vessel, the 2300 TAU, which set sail from Karachi, arrived at Chittagong Port a few days ago.
The Pakistan High Commission in Bangladesh has welcomed this development, underscoring the importance of the new sea trade route.
Officials say the corridor will enhance supply chain efficiency, save time, and open up fresh business opportunities for both countries.
Javed Balwani, President of the Karachi Chamber of Commerce and Industry (KCCI), expressed optimism about the revival of sea trade, especially for Pakistan’s textile and garment sectors.
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He highlighted that this presents a golden opportunity for Pakistani exporters to tap into the Bangladeshi market.
Increased exports, he added, will have a positive impact on Pakistan’s foreign exchange reserves.
Moreover, air connectivity between the two nations has been suspended since 2018. Economists are hopeful that the reopening of this sea corridor will significantly boost trade volumes in the coming years, marking a turning point in the economic relations between the two countries.