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Bangladesh seeks swift PTA with Nepal to boost economic ties
Bangladesh Ambassador to Nepal Md Shafiqur Rahman on Thursday underscored the importance of expediting the conclusion of the Preferential Trade Agreement (PTA) to unlock the full potential of economic cooperation between the two friendly countries.
The ambassador held a bilateral meeting with Secretary of the Ministry of Industry, Commerce and Supplies of Nepal Krishna Bahadur Raut at the latter’s office in Kathmandu.
During the meeting, both sides discussed a range of issues of mutual interest, including the pending PTA between Bangladesh and Nepal, existing trade barriers and challenges, and opportunities to explore new avenues for bilateral trade and investment.
Early conclusion of the PTA will provide a meaningful impetus to deepen commercial ties and create mutually beneficial opportunities for businesses in both countries, a senior official told UNB.
Both sides noted that despite the long-standing friendship, close geographical proximity, and excellent bilateral relations between Bangladesh and Nepal, the volume of bilateral trade remains below its potential, said the Bangladesh Embassy in Nepal.
The two sides agreed on the need for enhanced collaboration to facilitate trade, promote investment, improve connectivity, and encourage greater engagement between the business communities of both countries.
They expressed optimism that sustained efforts and closer cooperation would contribute to a significant expansion of Bangladesh-Nepal economic relations in the coming years, reports UNB.