Essay On Ways to Enhance Economic Cooperation

between Nepal and Bangladesh

Nepal and Bangladesh are neighbouring countries. People of different religions, castes and
cultures live in Himalayan Nepal. In the same way, people of different religions, castes and
ethnic groups live in our Bangladesh. There is a lot of similarity between the culture and the
culture of Bangladesh and Nepal. It should be noted that since the establishment of
diplomatic relations on April 8, 1972, the relations between the two countries have
continuously progressed. Since then, cooperation and friendly relations between the two
countries have been expanding in all fields including economy, communication, trade,
education, culture. Bangladesh and Nepal have similarities in art, culture, language, food
habits and lifestyle.Economic Cooperation between Bangladesh and Nepal lead to
mutual Benefits including such as increase trade and investments and Shared development
Goals. In this essay I will discuss various ways to enhance economic Cooperation Between
Bangladesh And Nepal and also present some strategies that can drive this cooperation
forward.

The most important thing is trade facilitation to enhance cooperation between Bangladesh
and Nepal. Both countries should work on reducing trade barriers, simplifying customs
procedures and harmonizing trade regulations. Initiatives like the South Asian Free Trade
Area SAFTA can be used more effectively to increase trade between Nepal and Bangladesh.

Another most important sector is Energy sector. Cooperation in the energy sector is another
way to enhance economic relation between Nepal and Bangladesh. Nepal, rich in
hydropower, Nepal can export surplus electricity to Bangladesh It will help Bangladesh to
meet growing energy demand and provide a valuable source of revenue to Nepal. That's how
both country will be benefited.

Investing in infrastructure is essential for connecting the two countries to each other. Roads,
trans railways , and waterways that increase the transportation of goods and people. The
development of cross-border infrastructure can significantly reduce transportation costs and
promote trade Between two countries. As Nepal and Bangladesh have already requested
India to allow them to use the existing Indian transmission line infrastructure to supply 40-50
megawatts of Nepal's power to Bangladesh, they also want a dedicated transmission line
through the Indian territory. Nepal and Bangladesh have already identified two potential
routes for the power infrastructure. One is Anarmari (Nepal) to Panchagarh (Bangladesh)
whose total length will be 49km. If the transmission line is constructed, 24km Indian territory
should be used, Power Grid Company of Bangladesh Limited stated in a presentation.
Another proposed route is Anarmari Nepal to Thakurgaon Bangladesh whose length will be
83km. In order to construct the transmission line along this alignment, 33km of Indian
territory should be used. “These routes were identified by the joint technical team of two
countries,” said Dirghayu Kumar Shrestha, chief of transmission directorate at Nepal
Electricity Authority NEA.Multilateral institutions like the Asian Development Bank can play
a vital role in financing and overseeing such projects.

Agriculture and Food Security can plays an important role to enhance the
economic cooperation between Nepal and Bangladesh. Bangladesh ranks the lowest among
all the South Asian countries in the Global Food Security Index. Bangladesh ranks at 84th,
Nepal's position is 77th, Nepal can export agricultural products, such as fruits, vegetables, and
grains, to meet Bangladesh's growing food demand. Joint research and technology sharing
can help improve agricultural productivity and food security in both countries. Additionally,
cooperation in agriculture, technology transfer, and knowledge sharing can help improve
agricultural productivity, which is vital for food security and economic development in both
countries.
Bangladesh ranks the lowest among all the South Asian countries in the Global Food Security
Index. Bangladesh ranks at 84th, Nepal's position is 77t.Nepal can export agricultural
products, such as fruits, vegetables, and grains, to meet Bangladesh's growing food demand.
Joint research and technology sharing can help improve agricultural productivity and food
security in both countries. Additionally, cooperation in agriculture, technology transfer, and
knowledge sharing can help improve agricultural productivity, which is vital for food security
and economic development in both countries.
Nepal and Bangladesh can encourage investments from each other's private sectors and
infrastructure development. Bilateral investment promotion agreements and incentives can
attract businesses to explore opportunities in sectors like manufacturing, technology, and
services Between two countries. Furthermore, the establishment of joint investment
promotion agencies can facilitate the exchange of information and attract foreign investments
into both nations.

Bangladesh and Nepal can promote cultural exchange programs between the two countries to
build better understanding and stronger economic relations between Bangladesh and Nepal.
Cultural events, art festivals and exhibitions can help bring the people of Nepal and
Bangladesh closer together and promote a better understanding of language and heritage and
creates opportunities for economic cooperation. Encouraging cultural exchange and
simplifying visa procedures can boost tourism and increase people-to-people connectivity,
thereby stimulating economic activity in the hospitality and service sectors.

Cooperation in the education sector and skill development can lead to a skilled workforce that
can contribute to the economic growth of both countries. Partnerships between educational
programs and educational institutions can promote knowledge sharing and capacity building
between the two countries. Cooperation in women's development programs and research can
increase economic cooperation between Nepal and Bangladesh.
Nepal and Bangladesh should join regional organizations such as the South Asian Association
for Regional Cooperation (SAARC) and regional forums such as the Bay of Bengal Initiative
for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) which can help
enhance relations between the two countries (Bangladesh and Nepal) and also helps in
infrastructure development and economic development. Active participation in these
platforms can help promote economic integration and cooperation between the two countries
These organizations promote regional integration, trade facilitation and economic
cooperation, benefiting member states including Nepal and Bangladesh.

Tourism is an important contributor to the economic growth of both Nepal and

Bangladesh. Cooperative marketing efforts of Bangladesh and Nepal can attract more tourists
to these countries. Joint tourism packages and improved air and road connectivity can
facilitate tourism growth in both Bangladesh and Nepal. Bangladesh and Nepal can jointly
take necessary initiatives that can attract tourists and implement laws that can protect tourists
from scams and frauds. If they can provide security to the tourists, it can attract tourists a lot.

It conclusion it can be said that, increased economic cooperation between Nepal and
Bangladesh is not only good for both countries, but it can also contribute to the regional
stability and development of South Asia. By focusing on these sectors such as trade
facilitation, infrastructure development, agriculture, and tourism development, energy
cooperation, among other strategies, both countries can maximize their national interests and
strengthen their economic ties and work towards shared prosperity between the two
countries. It is important for Nepal and Bangladesh to maintain their relationship and
cooperative programs and realize the full potential of this economic partnership between
them. A strong and cooperative economic relationship between Nepal and Bangladesh will
contribute not only to the two countries but also to the wider economic sector. Development
and Stability of the South Asian Region. Bangladesh is Nepal's closest neighbour within
SAARC (South Asian Association for Regional Cooperation). It is important to develop
close relations between these two countries. There is economic prosperity, but socio-cultural
prosperity is also very relevant. It is hoped that in the future these two will be able to set a
precedent of friendship in South Asia by working together in various fields. In order to
transform Bangladesh into a gateway and multimodal connectivity hub for the entire South
and Southeast Asia, various initiatives need to be taken to improve and facilitate the cross-
border transport connectivity of Bangladesh with its close neighbour Nepal.