Dhaka: The two-day 8th Commerce Secretary-level meeting between Bangladesh and Nepal concluded here yesterday with a renewed pledge to enhance bilateral trade and foster closer economic cooperation between the two South Asian nations. Commerce Secretary Mahbubur Rahman and his Nepalese counterpart Dr. Ram Prasad Ghimire led their respective delegations to the meeting, as stated in a Commerce Ministry press release today.
According to Bangladesh Sangbad Sangstha, the meeting featured extensive discussions on a wide range of issues aimed at enhancing bilateral trade and economic cooperation. Key areas of discussion included the promotion of bilateral trade through a Preferential Trade Agreement (PTA), simplification of visa procedures, reduction of tariff, para-tariff and non-tariff barriers, expansion of market access for goods, facilitation of payment systems, development of port infrastructure, expansion of rail connectivity, simplification of customs procedures, and effective implementation of transit facilities.
The meeting also covered issues related to tourism development and expansion of air connectivity, investment opportunities, exchange of experiences for sustainable development in the post-LDC graduation period, and the prospects of strengthening trilateral cooperation among Bangladesh, Nepal, and India. Detailed discussions were also held on finalising the Preferential Trade Agreement (PTA) between the two countries.
Both sides emphasised the importance of expediting the finalisation of the PTA draft text, Rules of Origin, and product lists (Request List and Offer List). The Bangladesh side proposed implementing the PTA initially with a limited number of products, with gradual expansion in later phases. To this end, it was decided to convene a meeting of the Trade Negotiating Committee (TNC) within the next three months to finalise the PTA draft text, Rules of Origin, and product lists.
The two sides also agreed to strengthen cooperation between relevant agencies of both countries in implementing existing Memorandums of Understanding (MoUs), as well as in addressing issues related to Sanitary and Phytosanitary Measures (SPS) and Technical Barriers to Trade (TBT). Both countries agreed to facilitate business visas, visas for professionals and their families, and tourist visas to enhance mutual travel and boost trade, investment, and tourism. They committed to taking coordinated initiatives to further simplify visa procedures.
The meeting also reached consensus on expanding market access for products, simplifying payment systems, and strengthening reliable transaction mechanisms. Emphasis was placed on addressing non-tariff barriers, simplifying product testing and certification procedures, and undertaking joint promotional initiatives for potential products to expand bilateral trade. Discussions were held on promoting bilateral trade through government-to-government (G2G) and business-to-business (B2B) initiatives, including trade fairs, exhibitions, and exchange of business delegations.
Both sides agreed to organise regular trade fairs, exchange market-related information, enhance capacity building, and strengthen cooperation at the Micro, Small, and Medium Enterprises (MSME) level. It was also decided that the 9th Commerce Secretary-level meeting will be held in Nepal at a mutually convenient time.