ISLAMABAD — Bangladesh and Pakistan plan to boost their annual trade to $ 1 billion on the back of negotiations between Prime Minister Khaleda Zia, and Prime Minister Shaukat Aziz. In order to achieve that goal, they have decided to finalise Pakistan-Bangladesh Free Trade Agreement (FTA) by September this year. Pakistan wants more Bangladeshi imports and will increase the trade level. Furthermore Pakistani entrepreneurs shall be encouraged to invest in Bangladesh which has investment friendly policies, and the government also provides special incentives. The Pakistani entrepreneurs can profit from Dhaka’s good business environment.

Pakistan, after China and India, is one of the three major players in global textiles market after the onset of WTO regime and removal of international textiles quotas. Pakistan also is among the top cotton producing countries in the world, and has six decades of experience in textiles and apparel production.

The recently emerged apparel and ready-to-wear garments industry in Bangladesh is making a good mark in these fields on the back of its large manpower, especially women workers. Pakistan is on of the major suppliers of cotton to Bangladesh. Pakistan and Bangladesh, until 1971 were a single country, have a history of common experience and business bonds, including in textiles and jute manufactures. Pakistan has expanded cooperation with reputed French design firms and institutes to further upgrade its products, expand production and enlarge its global share further.