Bangladesh, Nepal to Remove Trade Barriers
10 October 2017
Bangladesh and Nepal have agreed to remove non-tariff barriers and para-tariff measures to help increase bilateral trade. At the second Foreign Office Consultation between Bangladesh and Nepal held on 8 October 2017 in Dhaka, a Bangladesh delegation led by Mr. Md. Shahidul Haque, Foreign Affairs Secretary, Bangladesh met with the Nepal delegation led by Mr. Shankar Das Bairagi, Foreign Affairs Secretary, Nepal.
The foreign ministers noted that the volume of bilateral trade is below potential and agreed to address existing tariffs and trade-related barriers. Bangladesh exports to Nepal in 2015-2016 were worth $17.89 million while imports amounted to $9.43 million.
The two countries agreed to exchange trade delegations, organize trade fairs, and sign the Bilateral Trade Promotion and Protection Agreement and the Bilateral Agreement for the Avoidance of Double Taxation. The meeting also tackled connectivity and energy cooperation.
Road, rail and air connectivity would help promote bilateral trade, investment, and tourism. The secretaries said activating the Bangladesh-Bhutan-India-Nepal Motor Vehicles Agreement would spur trade in the region.
A meeting between commerce secretaries of Bangladesh and Nepal will be scheduled in Kathmandu.
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