Bangladesh-Nepal urged to develop stronger economic ties

Bangladesh and Nepal can collaborate to further expand and diversify their relationship by developing economic partnerships, recommends Foreign Secretary of Nepal Bharat Raj Paudyal.

He made the comment while speaking at a programme organised by Nepal's Institute of Foreign Affairs on Wednesday (20 April).

The foreign secretary said that trade, energy, tourism and travel, and connectivity are the key areas where two countries can work together.

"First and foremost is in the areas of trade. Even if we trade under the existing regional framework of SAFTA, the two countries do hold the potential to increase the current amount of trade many fold provided we rationalise our tariffs and limit the non-tariff barriers to a minimum" he added.

Paudyal emphasised on the need for cooperation in the energy sector saying that Nepal's rivers have enormous potential to contribute to their clean and green energy security.

"This sector offers a new vista of sustainable and long-term beneficial collaboration between Nepal and Bangladesh," he said

He acknowledged a "promising potential in trilateral cooperation for cross-border energy trade between Nepal, Bangladesh, and India" for further growth and prosperity.

The Nepalese foreign secretary expressed gratitude to Bangladesh for providing an additional route via Rohanpur-Singabad railway transit that would facilitate Nepal's access to Chittagong and Mongla Ports and help boost regional and sub-regional trade.