Tipu stresses boosting trade, commerce with Nepal

Commerce Minister Tipu Munshi said on Wednesday that there is an ample scope for boosting trade and commerce with Nepal through increasing communication among the businessmen, creating necessary business facilities and exchange of visits.

The Commerce Minister said this when Nepalese Ambassador to Bangladesh Ghanshyam Bhandari met him at his secretariat office.

Terming Nepal as a friendly nation of Bangladesh, the Commerce Minister said that Bangladeshi RMG products, food products, paper, paper bond, jute-made goods, pharmaceuticals, plastic products and electronics products are being exported to Nepal.

He opined that the current trade volume between the two countries is in a positive notion and thus this volume could be further enhanced through harnessing the potentials, said a Commerce Ministry press release.

According to official data, Bangladesh exported goods worth $68 million to Nepal in the last fiscal year (FY22) against the imports of $4.80 million.

He said with the introduction of direct road communication, a new horizon would be created in communication and trade.

In response, the Nepalese Ambassador said that a huge number of Bangladeshi tourists visit Nepal every year while the road communication would add a new dimension to it.

Ghanshyam Bhandari opined that the Mongla sea port alongside the Banglabandha and Benapole Land Ports would simplify further trade and commerce while there would also be huge benefits from the Padma Bridge.

He suggested forming Bangladesh-Nepal Chamber of Commerce and Industry to motivate the businessmen of both the countries.

Following the proposal from Bangladesh to sign a Preferential Trade Agreement (PTA), the Ambassador said that Nepal is working on the issue.

He also hoped that trade and commerce between the two countries would be further enhanced in the coming days.