Nepal, Bangladesh must boost cooperation to reduce trade imbalance: NCC president
KATHMANDU: Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal has said that Nepal and Bangladesh must build mutual cooperation and an easy business environment to reduce the trade imbalance between the two countries.
NCC President Agrawal made the remarks during a meeting with the Ambassador of Bangladesh to Nepal, Md Shafiqur Rahman, at the Chamber Bhawan today. He said the situation in which Nepal imports goods worth approximately $30.88 million annually from Bangladesh but exports only $3.33 million shows a large trade imbalance.
According to Agrawal, lack of a direct trade route and dependence on the Indian route increase shipping costs, leading to delays and complications in trade. He emphasised that both sides should prioritise expanding direct road and rail connectivity between Nepal and Bangladesh.
The NCC president further added, “Nepal's products such as lentils, spices, fruits and dairy products can find a good market in Bangladesh, but those opportunities have not yet been fully utilised.”
He said the BBIN regional cooperation framework — Bangladesh, Bhutan, India and Nepal — can be utilised as an effective means to increase cooperation in trade, energy and transport.
Agrawal suggested that the economic relationship be taken to a new height through direct cooperation between the private sectors of both countries, trade exhibitions, investment summits and policy facilitation.
During the meeting with NCC officials, Ambassador Rahman committed that he would do his utmost to promote Nepal's exports and reduce the trade deficit. He also said there is immense potential in Nepal's tourism sector and noted that cultural and educational relations between the two countries are at a high level, reaching the citizen level.
