Nepal enjoys trade surplus with Bangladesh
KAKKARBHITTA, JUN 15 -
Nepal has been enjoying a surplus in its trade with Bangladesh over the Fulbari-Banglabandha route due to rising demand for farm products.
According to Nepal Transit and Warehouse Company, Nepal posted a trade surplus of Rs 17.28 billion over the last seven years. Exports amounted to Rs 23.41 billion during the period 2006-07 to 2012-13 while imports reached Rs 6.13 billion.
“Exports are four-fold greater than imports which shows an optimistic trend for the country,” said an official of Nepal Transit and Warehouse Company (NTWC) in Kakkarbhitta. Nepali wheat, lentils, ginger, herbs and buffalo hides are in high demand in Bangladesh, according to the company. In the current fiscal year, exports reached Rs 2 billion while imports rose to Rs 1 billion.
According to the NTWC official, it has been 16 years since the Kakkarbhitta-Fulbari-Banglabandha route came into operation. The road has played an important role in boosting trade between the two South Asian countries. Nepal’s exports to Bangladesh reached a high of Rs 3.5 billion in fiscal 2009-10.
The official said that Nepal had not been able to export vegetables and other agro products despite their high demand due to different problems. “Lately, the high tariff imposed by Bangladesh on imported farm products has hampered the country’s exports badly,” he added.
Due to the high rate of duty, exports of ginger have remained at a standstill for the last few years. Bangladesh is the larger export market for Nepali lentil, but exports have remained sluggish for the last few months as they have become pricier in the Bangladeshi market.
According to the company, lentil, ginger, herbs, buffalo hides, and Dabur Nepal’s honey, chyawanprash, hajmola, hair oil and tooth paste are being exported from Nepal. Bangladesh sends back cotton vests, medicines, powder, battery, fabric, juice, potato, milk powder, biscuit, raw jute, tube light, lubricant, cloth hanger, soap, sugar and shampoo.
Source: The Kathmandu Post
