Bangladesh Resumes Direct Trade With Pakistan After 50 Years

Bangladesh has restarted direct trade with Pakistan for the first time in history with the arrival of a 50,000-ton rice shipment from Karachi under a government-to-government deal. Under the deal, Bangladesh is purchasing white rice from Pakistan at $499 per ton through the Trading Corporation of Pakistan. The shipment will be delivered in two phases, with the remaining 25,000 tons expected in early March. However, the price is higher than the $474.25 per ton rate for Vietnamese rice, which Bangladesh has been importing. To stabilize domestic rice prices, which have surged by 15-20 percent in recent months, the Bangladeshi government is expanding imports and removing import duties. Authorities have also invited bids for another 50,000 tons of rice to be exported from Pakistan.