November 21, 2024 4:23 pm

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Pakistan-Bangladesh sea trade Business National

Pakistan-Bangladesh sea trade restored after 54 years

After 54 years, sea trade between Pakistan and Bangladesh has been restored, with a cargo ship from Karachi Port successfully reaching Chittagong Port.

The resumption of direct sea trade marks a significant step in strengthening bilateral relations between the two countries, which had been halted following the creation of Bangladesh in 1971.

Pakistan’s High Commissioner to Bangladesh, Syed Ahmed Maroof, praise the reopening of the direct sea route as a crucial move for enhancing economic ties.

The President of Karachi Chamber, Javed Balwani, stated that with the restoration of the new sea route allows cargo ships to travel from Pakistan to Bangladesh in just 10 days, a vast improvement over the previous shipping time of 20 to 25 days via Dubai or Sri Lanka.

READ: Experts call to upgrade ports to boost Pakistan’s seaborne trade

In fiscal year 2024, Pakistan’s exports to Bangladesh amounted to $660.74 million, while imports from Bangladesh stood at $56.55 million.

Key exports from Pakistan include cotton fabrics, fruits, chemicals, and cement, while Bangladesh exports items like jute, medicines, and tea to Pakistan.

The restoration of this direct shipping route is expected to lower freight costs and boost trade between the two nations, benefiting both small traders and large exporters.

High Commissioner Maroof stressed that the move would open new opportunities for business and create a more connected trade network across the region.

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