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Kathmandu, Nepal, June 20, 2022: Nepal and Bhutan held the fourth round of trade talks on Monday with the aim to expedite the bilateral trade and cooperation between the two neighboring countries.
In the meeting held through virtual means, both the countries concentrated on the meeting on the issues related to the certificate of origin and agreed to revise the lists of goods under the preferential treatment, the Ministry of Industry, Commerce and Supplies said.
Though Bhutan has been repeatedly urging Nepal to sign a bilateral trade agreement to flourish the bilateral trade between the two countries, Nepal has yet to sign in the agreement. It is said that Nepal government is also in the process of signing in the bilateral trade agreement with Bhutan.
So far, Nepal has signed bilateral trade agreements and treaties with 17 countries including India, China, Bangladesh, Sri Lanka, Pakistan, United States, United Kingdom, Russia, South Korea, North Korea, Egypt, Yugoslavia, Bulgaria, Czech Republic, , Romania, Mongolia, and Poland.
Nepal imports various materials from Bhutan including juice, gypsum, coal, boring machinery, heavy equipment, and industrial equipment while exports snacks, soap, woolen carpet, cooking appliances, farm products, furniture, jute bags, Iron rods, alloy of aluminum, transformers and many others materials. Nepal has also been facing a trade deficit with Bhutan. In the fiscal year 2020/2021, trade deficit with India was Rs. Rs 567.03 million.
