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Pak chamber leaders keen to set up jt venture textile units in Bangladesh

Star Business Report
Pakistani entrepreneurs yesterday expressed keen interest to set up joint venture textile units in Bangladesh.
They also said both the countries will benefitfrom the joint ventures.
"We are advanced in textile sector and Bangladesh has skilled human resources for high value added apparel industry. So, joint ventures will help us both," Khalid Firoz Arfeen, president of Karachi Chamber of Commerce and Industry (KCCI), told Bangladeshi chamber leaders in Dhaka.
With 17 percent industrial growth at present, Pakistan produces 25 percent of the world's cotton and 68 percent of Pakistan's export revenue comes from cotton and textile products, he said, adding that Bangladesh's apparel industry, which is fast growing, is dependent on imported cotton and fabrics.
Arfeen is leading a KCCI business delegation in Bangladesh to discuss bilateral and regional trade
and investment opportunities.
The KCCI business team yesterday separately met leaders of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Dhaka Chamber of Commerce and Industry (DCCI).
The KCCI leaders also stressed the need for an early signing of free trade agreement (FTA) between Bangladesh and Pakistan for the benefit of both the countries.
If the two nations enter into a free trade era, the textile and clothing industry will get a boost, they observed.
"The Bangladeshi business leaders should also want the FTAas it will help establish joint ventures and expand existing trade and investment," the KCCI chief said.
The KCCI and the DCCI also agreed to form Bangladesh-Pakistan Business Development Council to facilitate trade and investment between the two countries.
The planned business development council, comprising of busi-
ness leaders, will sit at least once a quarter to discuss ways and means to enhance trade, the meetinq was told.
Speaking at the function, DCCI President Sayeeful Islam urged the Pakistani business leaders to help Bangladeshi manufacturers to market their products to Afghanistan and central Asian nations.
He also offered similar cooperation from Bangladesh side to market Pakistani products to the Southeast Asian countries.
In the meeting with the FBCCI, the KCCI delegation showed interest in telecommunications, light engineering, education and food processing of Bangladesh.
Speaking at the function, FBCCI First Vice-president Kamaluddin Ahmed said a strong business alliance is needed to improve trade scenario between the two countries.
Pakistan's export to Bangladesh was $195.01 million in 2003-2004 while Bangladesh's cumulative export to Pakistan was $45.57 million.