Pakistan and Bangladesh resume direct trade after 54 years
What's the story
For the first time since their separation in 1971, Pakistan and Bangladesh have resumed direct trade.
The first government-approved cargo has already departed Port Qasim, marking a major milestone in their maritime trade relations.
This comes after an agreement was finalized earlier this February, where Bangladesh agreed to buy 50,000 tons of Pakistani rice through the Trading Corporation of Pakistan (TCP).
Trade details
First phase of rice shipment en route to Bangladesh
The rice shipment from Pakistan to Bangladesh will be executed in two phases. The first consignment is already en route, while the remaining 25,000 tons will be sent in early March.
"For the first time, a Pakistan National Shipping Corporation (PNSC) vessel carrying government cargo will dock at a Bangladeshi port," The Express Tribune newspaper reported.
Economic impact
Trade resumption expected to strengthen economic ties
The resumption of trade is viewed as a positive step toward promoting economic cooperation and reopening long-dormant trade channels. The latest trade deal is expected to bolster economic ties and pave the way for direct shipping routes between Pakistan and Bangladesh.
Diplomatic thaw
Bilateral relations improve following political changes
The thaw in bilateral ties comes after Sheikh Hasina was ousted as Bangladesh's Prime Minister last year. Since then, the two countries have witnessed high-level exchanges.
The interim government in Bangladesh offered an olive branch to Pakistan, which welcomed the gesture.
This thaw in diplomacy has opened doors for direct trade after over five decades of dormancy.