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Скачать или смотреть Exploring Business Opportunities between Nepal & Bangladesh - Part 1

  • Trade & Investment Bangladesh (TIB)
  • 2022-10-10
  • 311
Exploring Business Opportunities between Nepal & Bangladesh - Part 1
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Описание к видео Exploring Business Opportunities between Nepal & Bangladesh - Part 1

Exploring Business Opportunities between Nepal & Bangladesh

Bangladesh & Nepal are enjoying a very friendly diplomatic relationship since the independence of Bangladesh in 1971. Nepal is the 7th country recognized as independent of Bangladesh & established a diplomatic relationship on 8th April 1972. Common features of the foreign policy of both countries are Mutual respect for each other’s territorial integrity and sovereignty; Non-interference in each other’s internal affairs; Respect for mutual equality; Non-aggression and the peaceful settlement of disputes; and Cooperation for mutual benefit etc.

Economically; Bangladesh and Nepal have many similarities and unique features like the GDP growth rate of both countries progressed hand in hand for a long. It is 2020 when Bangladesh grew 8.15% whereas Nepal experienced a negative growth of two percent. Many social indicators Bangladesh and Nepal have similar experiences though Nepal is a small economy of USD 31 billion whereas Bangladesh is a USD 465 billion economy.

In the Export Market, Bangladesh and Nepal have true diversity other than the textiles and knitwear; therefore we have more potential to increase export/import among ourselves. Bangladeshi businesses can invest in the Hydroelectricity, Transport, Agriculture, Tourism & Infrastructure sector of Nepal. Similarly, Nepalese businesses can invest in the Agribusiness, Ceramics, Electronics, Foreign Foods, & garments,s and textile sectors of Bangladesh.

Bangladesh and Nepal both are members of the UN, SAARC, SASEC, BIMSTEC, BBIN, etc. multilateral and regional platforms. Both countries are set to graduate from the LDC list in the year 2026. Nepal has enormous potential for hydroelectricity could be traded with Bangladesh and the Bangladesh government can offer its transit facilities for using Bangladeshi seaports by Nepalese businesses to make them competitive in the export market. It could facilitate mutual benefits for both nations but there is one identified challenge to get required cooperation from neighboring India. Bangladesh provided transshipment facilities through road, rail, and waterways therefore India should reciprocate the same in case of Bangladesh’s access to Nepal and Bhutan through Indian Territory. India may show security cause to allow the same, if Bangladesh can manage its security to provide transit facilities to India, India as a regional power should be capable to tackle so-called security issues.

Bangladesh and Nepal's bilateral trade balance is in favor of Bangladesh, but we have more scope to work further and increase bilateral trade furthermore. Traded items between Bangladesh & Nepal could be diversified in many folds. Both the nations have scope to take joint initiatives to promote investment between both nations unitedly. Nepal could be beneficial by taking expert support from Bangladesh in case of enacting Industrial Policies, SME Policies, SME Cluster Development Policies Entrepreneurship Development Policies, etc. Bangladesh can offer tourism, education, etc. supports to Nepalese tourists and students too.

To increase bilateral economic cooperation between Bangladesh & Nepal, both countries could sign free trade agreement between themselves. This agreement should include trade in goods, trade in services, free movement of people, and access to development projects of both nations. The establishment of a functional joint chamber of commerce, business forums, organizing bilateral conferences, a mutual gathering of businessmen, etc. could improve trade and investment cooperation between Bangladesh and Nepal. Thus our friendship could be transformed into an economic partnership for the prosperous future of the mass people of Bangladesh & Nepal.

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