Nepal, B'desh agree to enhance bilateral trade

By A Staff Reporter

KATHMANDU, Aug. 27: Bangladesh has agreed to provide warehouse facilities for Nepalese cargo at Mangla port, besides providing a 50 per cent rebate for goods on transit. It has also agreed to extend the 'free time' to clear the cargo from the port.

The first ever Commerce Secretary level talks between Nepal Bangladesh that concluded today reached an agreement on this. The 2-day meet also agreed to come up with the necessary infrastructure to develop a land port at Banglabandh by December. Bangladesh will also consider Nepal's demand that it open up its market for Nepalese agricultural products.

The meet ended today with an agreement to expedite trade between the two countries, with particular emphasis on opening new areas of trade. Nepal's export to Bangladesh consists of lentils, while Nepal imports jute products, machinery and fertiliser.

Despite the geographic proximity, both the nations have not been able to exploit the trade potential to the maximum. Trade between the two countries is only about Rs. 800 million. Lack of physical infrastructure, banking and warehouse facilities at the Bangladeshi border point of Banglabandh has been hindering trade between the two countries.

Talking to the media after the meeting, Secretary at the Ministry of Industry, Commerce and Supplies Bhanu Prasad Acharya said that the meeting was very fruitful in gearing up bilateral trade and tourism between Nepal and Bangladesh. As Nepal and Bangladesh face similar problems, they should make optimum efforts to expedite trade, he said.

Secretary Acharya said that the talks also accorded priority to promoting relations between the private sectors of the two countries.

Commerce Secretary of Bangladesh Suhail Ahmed, who led the Bangladeshi delegation, also emphasised the need to enhance the trade volume between the two countries. Secretary Ahmed said that trade and transit were importance to enhance the volume of trade.

A press release issued simultaneously by the Ministry said the meet agreed to finalise the agreement on transportation between the two countries in the near future. Bangladesh has also agreed to construct a bridge over the Rupsa River within two years to expedite trade.

During the meet, both countries agreed to hold trade fairs to promote trade. Air services from Bhadrapur, Biratnagar of Nepal to Shahidpur of Bangladesh will be initiated.

Nepal, on its part, has agreed to study the proposal of Bangladesh to carry out trade on the basis of Accounts / Counter Trade, the press release said.

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