Bangladesh has resumed direct trade with Pakistan for the first time given that its independence in 1971, with the first delivery of 50,000 tonnes of rice leaving Port Qasim under a government-to-government deal, officials said.The deal follows an improvement in diplomatic relations considering that an interim federal government in Bangladesh led by Nobel laureate Muhammad Yunus taking over in the wake of the protests that drove then-Prime Minister Sheikh Hasina out of the country, Reuters reported.Previously called East Pakistan, Bangladesh won independence following a nine-month war.The new agreement, completed previously this month, sees Bangladesh purchasing white rice from Pakistan at $499 per load through the Trading Corporation of Pakistan.
The delivery will be delivered in two phases, with the remaining 25,000 tonnes anticipated in early March.However, the cost of rice is higher than that of rice from Vietnam, which Bangladesh has been importing at $474.25 per ton.The federal government has actually been fighting to stabilize the rice market, as prices have actually increased by 15-20% in current months, with medium-quality rice selling at around 80 taka ($0.66) per kilo.To control rice prices, the government is importing more rice from global markets, consisting of through tenders, and has actually ditched import duties.The post Bangladesh and Pakistan resume direct trade after more than 50 years initially appeared on Ariana News.