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Pakistan is a member of the Economic Cooperation Organization and South Asian Association for Regional Cooperation (SAARC) for more than three decades. It is also a member of the Shanghai Cooperation Organization (SCO). Bangladesh can benefit from Pak-China strategic and economic partnerships which can pave the former’s way to ECO and SCO. Having a significant economic potential, the inclusion of Bangladesh in these organizations can help a great deal in boosting Bangladesh’s economic progress. Following the vitality of these forums, it will also increase Bangladesh’s diplomatic reach, ultimately helping the country to play an increased and vibrant role in world politics. Moreover, SCO, with both security and economic cooperation in its scope, presents even brighter prospects for Pakistan for a broader regional level engagement. In this respect, Pakistan can do a lot in terms of increasing Bangladesh’s role in the region and beyond.
Pakistan and Bangladesh can share greater opportunities for increased bilateral economic cooperation. Both can improve their trade relations through public-private partnerships (PPP) and economic zones. “Bangladesh is among the top export destinations of Pakistan in Asia after China and Afghanistan”. Pakistan’s major exports to Bangladesh include woven cotton fabrics, cotton yarn, raw sugar, raw cotton, tanned leather, machinery, its parts, and synthetic fabrics including silk and woolen. Pakistan’s main items of imports from Bangladesh are raw jute, tea, yarn & thread of synthetic fibers and tobacco. Pakistan’s exports to Bangladesh increased from US$ 618 million in 2017 to the level of US$ 752.67 million in 2018-19. With deeper trade, investment and connectivity linkages within the sub-region, Bangladesh and Pakistan can benefit from new markets, new import sources of high quality and better-priced products, increasing opportunities for transport and logistics services.
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