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Bangladesh and Nepal have agreed to finalise the draft text, rules of origin and product lists of the proposed preferential trade agreement (PTA) within the next three months, aiming to inject fresh momentum into bilateral trade, according to a press statement.
The decision was taken at the 8th Commerce Secretary-level Meeting (CSLM) held at InterContinental Dhaka on January 13-14.
The Bangladesh delegation was led by Commerce Secretary Mahbubur Rahman, while the Nepalese side was headed by Commerce Secretary Dr Ram Prasad Ghimire.
Finalising the PTA emerged as a central focus of the two-day talks, with both sides stressing the urgency of completing the "request list" and "offer list" of products.
Bangladesh proposed a phased approach to implementation, suggesting that the PTA be launched initially with a limited number of products and gradually expanded based on outcomes and readiness.
To keep negotiations on track, the two countries agreed to convene a meeting of the Trade Negotiating Committee (TNC) within the next 90 days to complete the remaining technical work, including finalising the draft PTA text, rules of origin and product schedules.
Beyond the PTA, the meeting covered a wide range of trade facilitation and connectivity issues aimed at easing bottlenecks and lowering the cost of doing business.
The two sides held detailed discussions on reducing tariff, para-tariff and non-tariff barriers (NTBs) to facilitate smoother bilateral trade flows.
Both commerce secretaries underscored the need for faster development of port infrastructure, expansion of railway connectivity and simplification of customs procedures to make transit arrangements more efficient and predictable.
Simplifying cross-border payment systems was also highlighted as a priority to ensure secure, reliable and seamless transactions for traders in both countries.
The talks placed significant emphasis on the potential for Bangladesh-Nepal-India trilateral cooperation, particularly in energy cooperation and transit connectivity, to strengthen regional integration and trade.
Recognising the importance of people-to-people links, the two sides agreed to streamline visa procedures, including business visas, professional visas for workers and their families, and tourism visas, to boost trade, investment and tourism.
The meeting also agreed to strengthen cooperation on sanitary and phytosanitary (SPS) measures and technical barriers to trade (TBT) through closer coordination between relevant agencies, harmonisation of standards and simplified testing procedures.
As both countries prepare for graduation from least developed country (LDC) status, they agreed to exchange experiences to ensure sustainable post-graduation development, while enhancing MSME cooperation and B2B engagement through regular trade fairs and exhibitions.
The meeting concluded with an agreement to hold the 9th Commerce Secretary-level Meeting in Nepal at a mutually convenient time.
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