Nepal-Bangladesh economic ties being expanded

KATHMANDU (RSS, 3 November 2019) – Bilateral trade, investment and exchange of high-level meetings between Nepal and Bangladesh among other factors have paved a way for the expansion of economic ties between the two countries lately.

The geographical proximity has also been another advantage that could be leveraged to further establish people-to-people relationship through the direct connectivity- land transportation. Bangladesh lies just in around 27 kilometres distance.

With the land transportation, the dynamics of Nepal-Bangladesh ties would witness a sweeping change. The tripartite agreement among Nepal, India and Bangladesh for exporting electricity produced in Nepal to Bangladesh had helped open more economic dimension between Nepal and Bangladesh.

The government of Bangladesh has expressed its commitment to import around 9,000 megawatt of electricity from Nepal by 2040 while it has expressed its willingness to invest in 20 hydro power projects in Nepal. Trade and investment sectors would be accorded high priority during the imminent State Visit of Bangladeshi President Mohammad Abdul Hamid to Nepal besides holding discussions on Bangladesh, Bhutan, India and Nepal Initiatives (BBNI) and Preferential Trade Agreement (PTA).

The announcement of the visit of Bangladeshi President to Nepal is likely very soon. Dr Rajan Bhattarai, Advisor to PM Oli on foreign affairs, termed Nepal being positive in increasing bilateral investments and exchange of high-level meetings. Bangladesh is also expressing its willingness to purchase energy from Nepal and considering investment creating ‘positive environment’, he added.

Dr Bhattarai said to the National News Agency (RSS), “The Bangladeshi side has proposed to exchange agro-products between Bangladesh and Nepal. We are also interested in it. We also want to move ahead in the context of Bangladesh making a stride in economic sector.” Bhattarai also viewed that Nepal wants to expand the areas of cooperation between Nepal and Bangladesh in addition to political, trade and commerce sectors.

Earlier, Prime Minister KP Sharma Oli discussed various aspects of bilateral relations and mutual interest including energy cooperation with his Bangladeshi counterpart Sheikh Hasina during a bilateral meeting on the sidelines of the recently held 18th summit of the Non-Aligned Movement (NAM) in Baku, Azerbaijan. PM Oli has been burnishing Nepal’s image in the international arena by expanding Nepal’s ties with the neighbouring countries keeping in consideration the sovereignty, independence, geographical integrity and national independence.

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