Kathmandu. KATHMANDU: Nepal Chamber of Commerce (NCC) President Kamalesh Kumar Agrawal has stressed on the need for collaboration and creation of conducive trade environment between Nepal and Bangladesh to reduce trade imbalance between the two countries.

During a meeting with Bangladesh’s Ambassador to Nepal Mohammad Safique Rahman, Agrawal said that Nepal imports goods worth USD 30.88 million annually from Bangladesh but exports only USD 3.33 million.

According to Agrawal, the lack of direct trade routes and dependence on Indian routes have increased the transportation cost, delays and complications in trade. He stressed that both sides should give priority to expanding direct road and rail connectivity between Nepal and Bangladesh.

“Nepal’s products like pulses, spices, fruits and dairy products can find a good market in Bangladesh, but these opportunities are yet to be fully tapped,” he added. ’

He said that the regional cooperation system among Bangladesh, Bhutan, India and Nepal could be utilized as an effective means of enhancing cooperation in trade, energy and transport.

President Agrawal also urged the private sector of both the countries to take economic relations to a new height through direct cooperation, business exhibitions, investment summits and policy facilitation.

During the meeting, Ambassador Rahman pledged to do his best to reduce trade deficit by promoting Nepal’s exports.

Ambassador Rahman said that there is immense potential in Nepal’s tourism sector. Rahman said the cultural and educational relations between the two countries are at a high level at the people’s level.