New Delhi, April 5 (NationPress) Binod K Chaudhary, Nepal's inaugural billionaire, has emphasized that Bangladesh and Nepal have significant potential to enhance their economic relations in the sectors of energy and cross-border commerce, particularly through increased regional collaboration with India. Chaudhary stated, "A more substantial economic partnership with Bangladesh is our goal, but this cannot materialize without a constructive role from India," during a press conference hosted by the International Chamber of Commerce Bangladesh (ICCB) in Dhaka, as reported by The Daily Star.

He highlighted Nepal's expanding hydropower capabilities as a vital opportunity, suggesting that the South Asian nation could initiate projects specifically aimed at the Bangladeshi market, with India's assistance in power transmission.

Chaudhary remarked, "India's changing perspective on cross-border energy collaboration presents a chance for these initiatives to flourish. Given our geographical realities, Nepal’s status as a landlocked nation makes such trade heavily reliant on Indian cooperation," he pointed out.

Binod Chaudhary is the head of Nepal's CG Corp Global and was included in the Forbes billionaire list in 2013, with his current estimated net worth being $2.1 billion.

During the same event, Abdul Awal Mintoo, Bangladesh's Minister for Environment, Forest and Climate Change, referenced traditional economic theory to emphasize the importance of local markets.

He cautioned against the notion that dependence on natural resources alone could ensure sustainable growth, citing the struggles of many resource-rich nations compared to more trade-oriented economies.

The Minister underlined the necessity of prioritizing economic connections with neighboring countries over distant alliances to enhance trade and foster long-term growth.

He added that political factors should not overshadow the economic rationale behind regional cooperation. Enhanced connectivity, energy partnerships, and trade integration among South Asian countries could unlock significant economic potential, provided that nations focus on practical collaborations rather than political limitations.

The Nepalese Ambassador to Bangladesh, Ghanshyam Bhandari, remarked that both countries face similar economic challenges and aspirations, making collaboration in trade and investment both essential and logical.

He noted that the deep-rooted bilateral relationship is founded on geographic and economic interdependence, symbolically linked through rivers that flow from the Himalayas to the Bay of Bengal.

He suggested that fostering stronger ties between the business communities of Nepal and Bangladesh is crucial for expanding bilateral trade.

The Ambassador concluded by stating that Nepal and Bangladesh have a unique opportunity to shape their economic destinies through closer regional cooperation, with trade serving as the cornerstone of this engagement.