Bangladesh, Nepal push for BBIN MVA to enhance trade

The agreement aims to bolster each country’s economy by enhancing trade, connectivity, and fostering people-to-people contacts.

Additionally, Bangladesh advocated for the swift conclusion of a tripartite power agreement among Bangladesh, India, and Nepal to facilitate power imports from Nepal.

Media reports underlined this citing the Bangladesh Ministry of Foreign Affairs.

Led by foreign secretary Masud Bin Momen and his Nepali counterpart Sewa Lamsal, the FOC reviewed the spectrum of bilateral relations. Both sides expressed contentment with the robust bilateral ties and pledged to advance cooperation across various sectors, notably trade, transit, energy, tourism, culture, and education.

Nepal foreign secretary Lamsal emphasised exploring untapped economic, cultural, and educational potentials, advocating for a meaningful partnership, including private sector involvement.

She urged Bangladesh to explore investment opportunities in Nepal, particularly in the hydropower sector, and to waive Other Duties and Charges (ODCs) on Nepali exports to Bangladesh.

Both countries stressed reciprocal visits at various levels and discussed regional issues, highlighting the revitalisation of SAARC and the reinforcement of BIMSTEC for regional cooperation even as they pledged mutual support in multilateral forums, especially the UN, focusing on common interests such as LDC graduation, poverty alleviation, climate change, and migrant worker safety.

The meeting concluded with plans for the next FOC to be held in Bangladesh at a mutually agreed-upon time, reflecting the commitment to further strengthen bilateral ties and regional cooperation between Bangladesh and Nepal.

ALCHEMPro News Desk (DR)