Bangladesh, Nepal agree to fast-track proposed PTA

The decision was taken at the eighth commerce secretary-level meeting held in Dhaka early this week.

Both sides agreed to convene a meeting of the trade negotiating committee within 90 days.

They stressed the urgency of completing the ‘request list’ and ‘offer list’ of products, an official release in Bangladesh said.

The Bangladesh delegation was led by Commerce Secretary Mahbubur Rahman, while the Nepalese side was headed by Commerce Secretary Ram Prasad Ghimire.

Dhaka proposed a phased approach to implementation, suggesting that the PTA be launched initially with a limited number of products and gradually expanded based on outcome and readiness.

The meeting also discussed other trade facilitation and connectivity issues aimed at easing bottlenecks and lowering the cost of doing business.

The two sides held detailed discussions on reducing tariff, para-tariff and non-tariff barriers, according to Bangladesh media reports.

Simplifying cross-border payment systems was also highlighted as a priority to ensure secure, reliable and seamless transactions for traders on both sides.

Fibre2Fashion (DS)