Trade Scenario Between Bangladesh and Nepal

 

Bilateral trade between Bangladesh and Nepal began in 1976 under the Trade and Payment Agreement, and the Transit Agreement along with a protocol to the Transit Agreement. The Agreements are automatically renewed for every three years. Although about 3 decades have passed, bilateral trade between the two countries has not grown much and the volume of trade has remained significantly low. Total trade volume in fiscal year 2012-13 was US$ 62.09 million.

The Fourth meeting of Nepal-Bangladesh Joint Working Group (GWG) was held on 22-23 October 2019.  In that meeting Nepal felt great importance to its close bilateral relationship with Bangladesh and wants to take it to new heights by enhancing trade, transit, connectivity and investment. The meeting highlighted the enormous potentials in trade, tourism, multimodal connectivity, agriculture, hydropower etc. An MOU on agreements and operation modalities for carriage of transit cargo, agreement on regulation of motor vehicles passenger traffic (Dhaka-Kathmandu Bus Services) and MOUs related to food safety, agriculture, duty free and preferential product access to each other’s market, visa procedure, investment promotion and transit facilitation were also discussed in the meeting. Bangladesh has been maintaining an excellent bilateral trade relation with Nepal. Bangladesh and Nepal both are signatories to SAFTA. Efforts are underway to strengthen trade relations between the two countries by exchanging concessional list of tariff items under SAFTA. Bangladesh’s imports and exports figures with Nepal are shown below.

Major exports from Bangladesh to Nepal:

Jute, Pharmaceuticals, Electric accumulators, woven garments, plastic goods, knitwear, readymade garments, paper, beverages, Cotton waste, cotton knitted fabrics, Sugar confectionery and other manufactured goods etc.

Major Imports into Bangladesh from Nepal:

Vegetable products (lentils), prepared foodstuffs, animal food, mineral products, chemical or allied industrial products etc.

Bilateral trade Between Bangladesh and Nepal

(Values in million US$)

Fiscal Years

Export to Nepal

Import from Nepal

Trade Balance

2006-07

0.85

5.98

-5.13

2007-08

6.71

52.96

-46.25

2008-09

8.06

68.80

-60.74

2009-10

8.79

43.15

-34.36

2010-11

10.84

49.03

-38.20

2011-12

41.58

26.16

15.42

2012-13

26.41

35.68

-9.27

2013-14

13.68

21.50

-7.82

2014-15

25.05

12.06

-12.99

2015-16

17.89

9.40

849.00

2016-17

47.40

10.00

37.40

2017-18

38.05

9.90

28.05

2018-19

46.01

9.50

36.51

Source: EPB/ Bangladesh Bank

 

Top 20 Exported Item in Nepal for the year 2020-2021:    

Sl

HS Code and Product Name

Amount In USD

1

23040000: Oil-Cake And Other Solid Residues, Of Soya-Bean Oil

22,358,020.51

2

53031000: Jute and other textile bast fibres, raw or retted

6,061,947.40

3

31021000: Urea, Whether Or Not In Aqueous Solution

5,841,790.00

4

12019090: Soya beans, whether or not broken other than Seed, EXCL. Wrapped/canned upto 2.5 Kg

4,100,125.18

5

07019019: Other Potatoes, Fresh, Nes

3,062,496.28

6

85071000: Lead-Acid Accumulators For Starting Piston Engines

3,020,515.38

7

30049099: Other(excl.anti-malaria, anti-TB, anti-leprosy....and kidney dialysis solution

1,921,415.91

8

15131900: Coconut (copra) oil (excl. crude) & its fractions, refined or not but not chem. modified

1,592,968.73

9

30043910: Anti-malaria-TB-cancer-leprosy,crdvsclr/anti-hepatic encephal opathy drugs/Kidney dls

1,357,877.11

10

60012100: Looped Pile Fabrics Of Cotton, Knitted Or Crocheted

1,263,717.15

11

19054000: Rusks, Toasted Bread And Similar Toasted Products

1,094,385.36

12

20099000: Mixtures Of Juices,Unfermented,Not Cont. Added Spirit,Sweetened Or Not

1,029,995.96

13

30032000: Medicaments Containing Other Antibiotics, ....Not For Retail Sale

807,715.38

14

53072000: Multiple (folded) of cabled

794,531.82

15

18069000: OTHER CHOCOLATE & OTHER FOOD PREPARA. CONTAININGS COCOA, EXCL. FILLED/NOT FILLE, TV

714,539.23

16

70051000: Nonwired Unworked Sheets Of Float/Ground/Polished Glass,Wth Absorbnt Layer

700,203.73

17

53071000: Single yarn of jute or of other textile bast fibres of 53.03

634,826.10

18

84183000: Freezers of the chest type, not exceeding 800 L capacity

570,456.99

19

30049010: Oth.Medicaments Of Mixe...Containing More Than 15% Of Absolute Alcohol

486,363.20

20

27101931: LUBRICATING OIL WHICH HAS ITS FLASHING POINT .. below 220 F b..Jy Abel close test

483,822.35

                                                                                                       Total Export Amount: 68,659,904.70 USD


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