Nepal, Bangladesh move to fast-track preferential trade agreement
Summary
Nepal and Bangladesh have agreed to fast-track a bilateral preferential trade agreement, aiming to finalize customs procedures, reduce trade barriers, and enhance economic cooperation, including tourism and joint ventures.
Key Points
- Nepal and Bangladesh agreed to expedite the signing of a bilateral preferential trade agreement (PTA).
- The two countries plan to harmonize customs procedures and address non-tariff barriers to boost trade and investment.
- Bangladesh's tariff and para-tariff regimes are cited as major obstacles to Nepali exports.
- Both countries committed to enhancing cooperation in tourism, joint ventures, and simplifying visa processes.
