Nepal, Bangladesh sign four MoUs to enhance cooperation, connectivity

The agreements were signed during the two-day visit of Nepali President Bidhya Devi Bhandari who was  in Dhakato participate in the ceremony marking the 50th anniversary of Bangladesh independence.

Nepal, which has a high trade imbalance with Bangladesh, sought better market access for its goods in Bangladesh. “Nepal has an increasing trade deficit with Bangladesh. We need to minimize the trade deficit in order to make trade beneficial for both the countries," Bhandari was quoted as saying by Dhaka Tribune.

Addressing the event, she said the two nations have great potential to enhance energy ties. Nepal’s hydropower and Bangladesh’s natural gas, she claimed, could be a “game-changer” for the developmental needs of the two nations.

She also stressed improving connectivity in the region. "Connectivity can be improved and the cost of transport and trade can be reduced," she said, emphasizing the need to reduce trade barriers, development of infrastructure, and increase market access.

She also suggested linking rivers in the region so that the waterways could be developed as alternate routes for trade. Cooperation among India, Nepal, and Bangladesh is essential for improving this sector, she said.