Makkah Pact: BD’s inclusion could expand regional reach, trade ties: Dy HC

KARACHI: Bangladesh’s inclusion in the Makkah Pact could extend the framework’s geographic reach to South Asia and the Bay of Bengal, while closer economic cooperation could strengthen trade and investment ties between Pakistan and Bangladesh, said Muhammad Sakib Sadakat, Bangladesh’s Deputy High Commissioner in Karachi.

He was speaking at a seminar titled “Pakistan–Bangladesh Economic Synergies: A New Era of Trade and Investment Cooperation,” organized by the Economic Diplomacy Forum (EDF) in collaboration with the Bangladesh Deputy High Commission in Karachi.

“Reconsidering Bangladesh’s membership to the Makkah Pact could benefit the current members by extending the pact’s geographic reach up to South Asia,” Sadakat said.

He noted that Bangladesh’s participation could broaden the pact’s presence beyond the Gulf region and strengthen its position as a wider cooperation framework rather than a three-country bloc.

He added that Bangladesh deeply appreciates and values recent regional peace initiatives involving Prime Minister of Pakistan Muhammad Shehbaz Sharif and Chief of Army Staff Field Marshal Syed Asim Munir.

Bangladesh could also contribute to joint training, coordination, and defense-industry links, he added, noting that the country remains among the largest contributors to United Nations peacekeeping missions.

Highlighting economic avenues, Sadakat said businesses in both countries could explore cooperation in textiles and garments, cotton and yarn, pharmaceuticals, agriculture and food products, chemicals, jute, leather goods, information technology, tourism, real estate, medical treatment, fashion and other services.

Companies could also establish joint ventures and exchange technical expertise. Pakistani businesses, he noted, could explore investment opportunities in Bangladesh’s manufacturing, construction, banking, small and medium-sized enterprises (SMEs), financial technology, food processing, information technology, and education sectors.

Sadakat said cooperation in research and training, supported by universities and professional institutions, could help develop skills, generate employment, and promote innovation.

He added that the establishment of a Pakistan–Bangladesh Joint Business Council and the upcoming first meeting of the Joint Trade Commission would provide structured platforms for identifying partners, exchanging market information, and developing a roadmap for commercial cooperation.

He also called for greater support for SMEs, noting that smaller businesses often lack the information, financing, and contacts needed to enter new markets. Business directories, digital trade links, and matchmaking events could help them access opportunities, while women entrepreneurs and young innovators should also be actively included.

Sadakat further noted that Bangladesh could serve as a source of skilled and semi-skilled manpower for Pakistan’s labor market at reasonable costs.

Addressing the seminar, Dr. Muhammad Farooq Afzal, Founder President of the Economic Diplomacy Forum (EDF), highlighted the pivotal role of economic diplomacy in strengthening bilateral relations. He emphasized the potential to expand trade, investment, and business partnerships, calling for sustained engagement between the private sectors of both countries.

Zubair Motiwala, former Chief Executive of the Trade Development Authority of Pakistan (TDAP), highlighted opportunities for greater commercial interaction and stronger links between the business communities of both nations.

Irfan Soomro, Director General at Pakistan’s Ministry of Foreign Affairs, also addressed the gathering, emphasizing diplomatic engagement and closer bilateral economic ties.

During the event, a Memorandum of Understanding (MoU) was signed between the Bangladesh Deputy High Commission in Karachi and EDF Pakistan to promote bilateral trade, investment, and institutional cooperation. Sadakat signed the agreement on behalf of the Deputy High Commission, while Dr. Farooq Afzal signed on behalf of EDF.

The MoU provides a framework for business-to-business networking, trade and investment seminars, conferences, business delegations, and the exchange of economic and commercial information aimed at strengthening institutional and people-to-people contacts.

Copyright Business Recorder, 2026