Pakistan, Bangladesh resume direct trade first time since 1971 separation

The agreement was finalised in early February when Bangladesh agreed to purchase 50,000 tonnes of Pakistani rice through the Trading Corporation of Pakistan (TCP).

Pakistan and Bangladesh have resumed direct trade for the first time since the 1971 separation, with the first government-approved cargo departing from Port Qasim, according to a media report.

The agreement was finalised in early February when Bangladesh agreed to purchase 50,000 tonnes of Pakistani rice through the Trading Corporation of Pakistan (TCP).

“For the first time, a Pakistan National Shipping Corporation (PNSC) vessel carrying government cargo will dock at a Bangladeshi port, marking a significant milestone in maritime trade relations,” The Express Tribune newspaper reported.

East Pakistan separated from Pakistan in 1971 to form the independent state of Bangladesh.The transportation of the goods marked the first instance of official trade relations being restored since 1971.Under a deal finalised in early February, Bangladesh is set to import 50,000 tonnes of rice from Pakistan through the Trading Corporation of Pakistan (TCP).

The shipment will be completed in two phases, with the remaining 25,000 tonnes to be dispatched in early March.The development is seen as a positive step in fostering economic cooperation and reopening trade channels that remained dormant for decades.

The latest trade deal is expected to strengthen economic ties between the two nations and facilitate direct shipping routes.After Sheikh Hasina’s ouster as the prime minister of Bangladesh last year, the bilateral relations witnessed a thaw with high-level exchanges between the two nations, the paper said.

The interim government in Bangladesh extended an olive branch, to which Pakistan responded positively, it said.