Dhaka, 14 November 2024: The trade relations between Bangladesh and Pakistan have entered a new horizon with the arrival of a cargo vessel directly from Karachi, Pakistan to Chittagong Port for the first time. The launch of this direct waterway will create new momentum in trade relations between the two countries and bring several positive changes in imports and exports.
Experts say that this new waterway will eliminate the long-standing transit problem, which will save time and cost in trade activities. If direct transport of goods from Karachi to Chittagong Port is possible, traders will be able to easily supply goods from any province of Pakistan, which will make product sourcing faster and more convenient
Huge savings on transit time and costing
Until now, various transit routes have been used to transport goods from Pakistan to Bangladesh, which created a lot of time and cost pressure. However, with the launch of this new waterway, transit time will be reduced and costs will also be reduced significantly. Importers in particular will now receive their goods faster, which will speed up their business and reduce the complexity of supplying the market.
Dealing with the onion crisis
The onion crisis has been a long-standing problem for Bangladesh, which has put pressure on imports at different times every year. Pakistan could also act as an alternative source if onion supplies are disrupted due to political unrest or disruptions with India. Pakistan is currently ready to supply onions to Bangladesh, and as long as these supplies continue, onion prices will also remain stable in the market.
With this change, Bangladeshi farmers can expect more stability in the onion market. On the other hand, Pakistan is also keen to accept this agricultural product, along with other products from Bangladesh, in its market, which could open a new chapter in the agricultural sectors of the two countries.
New opportunities for product sourcing.
In addition, the range of products that can be supplied from Pakistan to Bangladesh will be wider. Pakistan can export cotton, leather, cement, food, household goods, medicines, and various agricultural products, which are in high demand in Bangladesh. In particular, the supply of cotton and other raw materials from Pakistan will create new opportunities for the Bangladeshi garment industry.
In addition, many types of products can be exported from Bangladesh to Pakistan, such as agricultural products, fisheries, electronics, and ready-made garments. There is a demand for Bangladeshi ready-made garments in the Pakistani market, and this new transport route will make it easier to meet this demand.
New horizons in bilateral relations
The opening of this new waterway will also strengthen the diplomatic relations between the two countries. In addition to business and commercial relations, new avenues of cooperation in cultural, tourism, and other sectors will be opened. If communication between Bangladesh and Pakistan increases, people-to-people relations will also improve.
In addition, this new business prospect will create new employment opportunities for the youth of both countries. Especially, the youth of Bangladesh will be able to acquire skills in various export and import-related activities, which will be helpful for the country’s economy.
Future perspective
Experts hope that this waterway will enable more cooperation between Pakistan and Bangladesh in the future, such as joint ventures, technology exchange in the industrial sector, and sharing of mutual experiences on good governance. Pakistan can create more export markets for Bangladesh, and both countries can help each other in their product markets.
This new waterway is not only important in terms of trade relations but can also usher in a positive change in political relations. It is going to give birth to new prospects, new initiatives, and new business opportunities for the two countries.
This change will open up a new horizon in the business environment of Bangladesh and deepen relations with Pakistan in the future. Bangladeshi businessmen and farmers will benefit from this, and the foundation of cooperation between the people of the two countries will be stronger.
