The first round of the technical meeting was held in the Bangladeshi capital of Dhaka on February 17 where long pending bilateral trade issues were discussed. [break]
“We are holding discussions with stakeholders on granting duty-free access to about 100 Bangladeshi products that are being imported into Nepal from Bangladesh,” Jiba Raj Koirala, joint secretary at the Ministry of Commerce and Supplies (MoCS), told Republica on Saturday.
During the Dhaka meeting held in February, Bangladesh had agreed to grant zero-tariff access to 108 Nepali products--mainly farm produces--into its market.
The 108 goods shortlisted by Bangladesh for preferential treatment include lentil, vegetables, cereals, wheat flour, fruits, juice, dairy and handmade papers, among others.
In return, Bangladeshi officials had asked Nepal to allow zero-tariff entry of 153 Bangladeshi products into the Nepali market.
Koirala said pharmaceuticals, electronic goods, garments, fishes and some food items being imported from Bangladesh are among the products being discussed for duty-free entry into Nepal.
“We are selecting Bangladeshi products that do not pose threat to Nepali products after their duty-free entry into the country,” said Koirala, who is heading a committee, comprising representatives of the private sector, formed to finalize the list of Bangladeshi products for zero-tariff entry.
A commerce secretary-level meeting held in Kathmandu last July had assigned joint-secretaries of both the countries to finalize products prior to their endorsement at the upcoming secretary-level meeting.
Data compiled by the Trade and Export Promotion Center show that Nepal exported goods worth Rs 2.57 billion to Bangladesh in fiscal year 2011/12, while the country imported goods worth Rs 8.09 billion from Bangladesh, its second largest trading partner in South Asia, in the same period.
Nepal´s exports to Bangladesh in the first nine months of the current fiscal year stood at Rs 2.42 billion, up 44.5 percent than in the same period last fiscal year.
During the Dhaka meeting both sides also held extensive discussions on draft documents on operational modality of Chittagong and Mongla ports, which are crucial for promoting trade between two south Asian nations. The operation modality would be discussed again at the upcoming joint-secretary level meeting.
Other issues that need to be finalized are: arrival visas for Nepalis in Bangladesh and recognition of quality certificates issued by laboratories of both the countries for harmonization of quarantine process under the Sanitary and Phytosanitary (SPS) regime.
“We will finalize most of the unsettled issues in the upcoming meeting,” said Koirala. He, however, said the date of the meeting has not been fixed yet, though trade officials from both the countries are communicating on a regular basis.
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