Foreign Secretary Lamsal Urged Bangladeshi To Explore Investment Opportunities In Nepal

Foreign Secretary Lamsal Urged Bangladeshi To Explore Investment Opportunities In Nepal

April 19, 2024, 10:11 a.m.

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The Third Round of Foreign Office Consultations (FOC) between Nepal and Bangladesh was held in Kathmandu. During the FOC, Nepali delegation was led by Sewa Lamsal, Foreign Secretary, while Bangladesh delegation was led by Foreign Secretary (Senior Secretary) of Bangladesh Masud Bin Momen.

During the FOC, the whole gamut of bilateral relations was reviewed. Both the Foreign Secretaries expressed satisfaction on the excellent bilateral relations that exist between Nepal and Bangladesh.

They discussed all the major issues of mutual interests and agreed to promote cooperation encompassing all sectors, especially trade and commerce, transit and connectivity, power and energy sector, tourism, culture and education. Both Foreign Secretaries emphasized the operationalization of the BBIN MVA framework tocontribute to the individual country’s economy not only by expanding trade and connectivity, but also by creating more opportunity to promote people-to-people contacts.

Foreign Secretary Lamsal stressed the exploration of the untapped potential in economic, cultural and educational areas and proposed to establish meaningful collaborative partnership including in the private sector.

She mentioned that Nepal would like to pursue more trade and investment cooperation with Bangladesh. She urged Bangladeshi side to explore investment opportunities in Nepal including in hydropower sector. She also requested the Government of Bangladesh to eliminate the existing Other Duties and Charges (ODCs) levied on Nepali products being exported to Bangladesh. Nepali Foreign Secretary emphasized the exchange of visits at different levels.

Foreign Secretary of Bangladesh Mr. Masud Bin Momen emphasized the expeditious conclusion of tripartite power agreement among Bangladesh-India-Nepal soon, which will help Bangladesh to import power from Nepal.

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Bangladesh Foreign Secretary thanked Government of Nepal for allocating land for the construction of a Monastery in Lumbini. He added that it would be a milestone in our relations and enhance people-to-people contacts between Bangladesh and Nepal in the days ahead.

Both Foreign Secretaries discussed regional issues of mutual interest. They also underscored the necessity of revitalizing SAARC and strengthening BIMSTEC for promoting regional cooperation. Both Foreign Secretaries also agreed to cooperate with each other at various multilateral forums, especially at the UN to pursue common interests especially in the areas of LDC graduation, poverty alleviation, climate change and safety and security of migrant workers.

An MoU between the Institute of Foreign Affairs of Nepal and the Foreign Service Academy of Bangladesh was also signed by the Foreign Secretaries of the two countries.

Later this afternoon, the Foreign Secretary of Bangladesh Mr. Masud Bin Momen paid a courtesy call on the Deputy Prime Minister and Minister for Foreign Affairs Narayan Kaji Shrestha at the latter’s office in Singha Durbar. On the occasion, discussions were held on issues of mutual interest between Nepal and Bangladesh.

The next FOC will take place in Bangladesh at a mutually convenient time.

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