May 21, 2024, Tuesday
Nepal 1:37:26 pm

Chamber proposes India to build common road network in BIMSTEC

The Nepal Weekly
February 7, 2023

Nepal Chamber of Commerce has proposed the Indian side for building a common road network among the BIMSTEC nations. Nepal Chamber has made request to expand trade among the BIMSTEC nations by building common road network involving Nepal, India, Bangladesh, Bhutan, Sri Lanka, Thailand and Myanmar, according to a press release issued by the Nepal Chamber of Commerce.

During a meeting held with Mahendra P. Lama, chief economic advisor of the government of Sikkim and Abjeet Kumar Bejbaruwa, senior economic advisor to North-East Development Finance Corporation at the chamber’s office in Kathmandu on Wednesday NCC made request to build BIMSTEC road network and to create a conducive business environment among the member countries, said president of NCC, Rajendra Malla. If the BIMSTEC nations can create a conducive business atmosphere in the sub-region through building the road network, all the member countries could be benefitted, according to president Malla. The BIMSTEC countries could achieve common objective of economic development through developing a common road network in the sub-region, pointed out Malla.

He also stressed on the need for facilitating Nepal’s export trade in order to minimize the huge trade deficit the country is facing with India. Pointing to the fact that Nepal’s 70 percent trade deficit is linked with India, Malla requested the Indian side to help end obstacles the country is facing in its export trade. Inviting more Indian investments in the areas of hydropower, infrastructure and tourism, Malla informed that Nepal Chamber is making efforts to strengthen bilateral trade relations with India. He also requested the Indian side to help create a favourable environment so that Nepal’s hydro-electricity could be easily exported to both India and Balgnadesh.