NCC urges delegation of Bangladeshi industrialists to invest in Nepal's hydro sector

KATHMANDU: Nepal Chamber of Commerce (NCC) discussed business facilitation with industrialists and businesspersons of Bangladesh on Thursday.

An agreement has been reached between visiting Bangladeshi industrialists and businesspersons and NCC to increase business activities through the development of road and air infrastructure.

In connection with the completion of 50 years of diplomatic relations between Nepal and Bangladesh, the business representatives of the two countries have agreed to cooperate in the fields of energy, tourism, and industry, according to NCC Chairman Rajendra Malla. He said, ‘As Nepal, India and Bangladesh have signed a tripartite agreement for energy trade. We call for investment along with its effective implementation.”

The NCC President emphasized that along with the road network in Bangladesh, the relationship should be expanded from the citizen’s point of view by expanding air connectivity. In the context of Nepal’s high trade deficit with Bangladesh, Malla stressed the need to find products that could be exported. He urged the delegation of Lalmonirhat Chamber of Commerce and Industry, Bangladesh for its facilitation and investment in electricity citing that Nepal has the potential to reduce its trade deficit through energy trade.

As there is a high demand for energy in Bangladesh, previously, Nepal and Bangladesh held bilateral discussions on various options for energy trade with Nepal. However, the implementation of energy trade agreement has not been completed yet.

NCC President Malla urged Bangladeshi industrialists to invest in hydropower in Nepal along with the facilitation of electricity trade. He said Nepal is open for investment even in small and medium industries and that they will take initiatives with the government for investment protection.

Morol Humayun Kabir, Senior Vice president, Lalmonirhat Chamber of Commerce, Bangladesh emphasized the need to develop road infrastructure to facilitate trade between the two countries. He emphasized that both countries should take initiative to connect air and land routes. He said they were ready for investment in the energy and tourism sectors in Nepal, but the NCC will have to take initiatives for policy facilitation.


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