Nepal sees huge hydropower market in Bangladesh

The Nepalese minister for energy has said Bangladesh is going to be a “huge market” for their hydropower.

Inaugurating the third Nepal-Bangladesh Business Forum in Kathmandu on Thursday, Barshaman Pun Ananta said both countries signed energy exchange-related MoU recently to this end.

Bangladesh Ambassador Mashfee Binte Shams highlighted the social, economical, and cultural transformation of the countries and said working together will be “fruitful” for both nations.

“Bangladesh is ready to work closely with Nepal on hydropower development and energy trade,” she said.

It is a joint initiative of Nepal-based think tank, the Asian Institute of Diplomacy and International Affairs (AIDIA), and the Bangladesh Embassy in Kathmandu.

Based on the successes of the previous two gatherings, AIDIA says they hosted the ‘3rd Nepal-Bangladesh Business Forum’ with the theme ‘Navigating the Next Phase of Socioeconomic Cooperation’.

It focused on two major issues - strengthening media cooperation and expanding multimodal connectivity.

Sunil KC, founder of AIDIA, spoke about his organisation’s role to “successfully” bring a billion dollar investment in hydropower to Nepal.

He also highlighted the significance of investing in Bangladesh and said ‘Double Tax Avoidance Agreement’ has made it easier for investors to go to Bangladesh.