KATHMANDU, JAN 23 - Industrialists and businessmen have pointed that mutual trade between Nepal and Bangladesh can be massively expanded if Bangladesh provides duty concessions to Nepali products, as it has provided to Bhutan.
Addressing a press meet to apprise the outcomes of the visit that an 11-member CNI delegation recently concluded, Binod Kumar Chaudhary, President of Confederation of Nepalese Industries (CNI) said that major breakthrough in the mutual trade relations can be achieved, if serious efforts are made.
Chaudhary, who led the delegation, said that despite tremendous trade potential between Nepal and Bangladesh, the volume of bilateral trade are nominal and stressed on the need to boosting bilateral trade relations.
The CNI delegation had left for Bangladesh on 17 January to participate in a conference on Global Economic Governance and Challenges of Multilaterlism organized by the International Chamber of Commerce (ICC), Bangladesh. Chaudhary also informed that the conference also discussed the role of developing counties in the globalised trade scenario and possible impact on the developing countries on WTO regime.
There was also a consensus that much-needed balanced growth is possible through WTO since majority of the beneficiaries from the WTO regime are developed countries, Chaudhary added.
On the occasion, Atma Ram Murarka, a member of the delegation, expressed dissatisfaction over the cold response of Dhaka-based Royal Nepali Embassy towards the efforts of CNI in promoting mutual trade relations.
"How can we expect to boost economic diplomacy with such diplomatic machinery," he questioned.
During the visit, the delegation also met Bangladeshi Prime Minister Khalida Zia and Foreign Minister M Morshad Khan and discussed issues to promote bilateral trade relations.
Similarly, the delegation also met Supachai Panitchpakdi, WTO’s Director General and exchanged views over the opportunities and challenges of Nepal after its accession and extended invitation to participate in the CNI-Partnership Summit- 2004 to be held in Kathmandu.
According to the information released on the occasion, the CNI delegation also signed a bilateral agreement with Metropolitan Chamber of Commerce to form Joint Economic Forum and Investment Interface Forum.Posted on: 2004-01-24 02:29

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