Kathmandu, October 2:

Bangladeshi entrepreneurs have found Bangladesh Single Country Fair-2005 not only a platform to showcase their products and services but also to expand business relationship and explore new opportunities between the two South Asian countries. As a result, the Bangladeshi and Nepali entrepreneurs are looking forward to set up a joint venture in herbal production and processing. The Bangladeshi entrepreneurs, who are here in the capital to take part at the fair, are holding talks with the Nepali counterparts for a possible expansion of investment and technological expertise.

“Talks have been fruitful for the expansion of investment and technological expertise in the area of pharmaceuticals and herbal industry,” said Raquib M Fakhrul, chairman of Ayurveda Pharmacy Ltd. He said that his company has already initiated talks with Chaudhary Group in Nepal for partnership in herbal medicine and other products.

“The Bangladeshi companies are keen to expand their market here and they are also looking forward to herbs import from Nepal. We are looking for reciprocal business relationship,” Fakhrul said, adding that Nepal could benefit a lot from the Bangladeshi technological expertise in pharmaceutical industry.

“The visitors’ turnout is very impressive in the last three days with more sales and enquiry,” said M Humayun Kabir, ambassador of Bangladesh to Nepal. The fair has been able to bring the business communities of the two countries closer, which in a long run will contribute in strengthening economic and trade relations, he added.

Noting that the Bangla-Nepal joint ventures in banking, insurance, pharmaceuticals and textiles are doing well. The envoy pointed out the possibilities of more joint ventures. “Both the countries should promote bilateral investment in those areas where we have comparative and competitive advantages.” “Both Bangladesh and Nepal being LDCs should jointly raise issues like preferential market access, subsidy in agriculture and non-trade barriers for international trading in the ambit of WTO,” said Mir Nasir Hossain, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

He also pointed out the need of ‘free flow of human beings’, which helps promote the trade volume. “Free flow of human being will be an effective tool to control trafficking, too,” he said.