Momen stresses FTA with Nepal to boost trade cooperation

Foreign Minister Dr AK Abdul Momen on Sunday underscored the need for signing a free trade agreement (FTA) with Nepal to boost bilateral trade between the two countries.

Meanwhile, the two countries have progressed a lot in energy cooperation, he said while addressing, as the chief guest, a seminar titled "Celebrating 50 Years of Bangladesh-Nepal Friendship: Shared Vision of Peace, Progress and Prosperity", organised by the Bangladesh Institute of International and Strategic Studies (BIISS) in the capital.

"Nepal and Bangladesh are graduating from the status of LDC (least developed country) in 2026 and thus, both countries have enormous opportunities to work together for a smooth LDC graduation. Energy, tourism, education and migration sectors and connectivity between the two countries have many untapped potentials for mutual cooperation," added Momen at the seminar celebrating the golden jubilee of the Bangladesh-Nepal bilateral ties.

The foreign minister further said that Bangladesh is interested in importing 50MW of electricity from Nepal, which is already getting late.

Momen also emphasised introducing visa-free travel between the neighbouring countries in South Asia to ease communication, saying, "If we can do this, the communication between the countries in this region will increase".

Nepalese Ambassador in Dhaka Ghanshyam Bhandari said that Nepal and Bangladesh share a common commitment to global peace, having avenues for further expansion of trade and investment opportunities, scope for potential hydropower exploration and a great potential for tourism together.

Mentioning that Nepal's bilateral ties with Bangladesh that started during the 1971 Liberation War is strengthening day by day, Bhandari said, "Meanwhile, 3,000 Nepali medical students are studying in Bangladesh and Nepal is one of the [tourist] destinations of Bangladeshis. In 2022, 25,000 Bangladeshi citizens travelled to Nepal".

The ambassador also emphasised sharing mutual experiences, lessons and best practices for planning a better future.

Rector of the Foreign Service Academy, Ambassador Mashfee Binte Shams said that a preferential trade agreement (PTA) is being discussed to increase trade between Bangladesh and Nepal, adding that tariff barriers should be identified and removed.

"Air connectivity between the two countries could be further enhanced … not only from Dhaka, but also from Saidpur [airport]," she added, further emphasising strengthening defense cooperation between Bangladesh and Nepal.

BIISS Director General Maj Gen Sheikh Pasha Habib Uddin said that the two countries have a huge scope for cooperation in areas such as trade, investment, connectivity, energy, education and tourism.

"Bangladesh and Nepal have enormous scope to work jointly and enhance cooperation under the sub-regional and regional platforms," he said, adding that the two friendly nations can also work to take the bilateral relationship forward and enhance collaboration in hydropower and infrastructure development.

Dr Swarnim Wagle, chair of the Institute for Integrated Development Studies (IIDS), senior officials from different ministries, ambassadors, high commissioners, former diplomats, senior military officials, media personalities, researchers, business people, teachers and students from various universities, and representatives from different think tanks and international organisations participated in the seminar.