Kathmandu, Feb 2 (PTI) The Nepal Chamber of Commerce has proposed that India should take the lead in building a common road network among the BIMSTEC nations to expand trade.

The BIMSTEC is a regional grouping comprising India, Bangladesh, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal.

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The grouping accounts for 22 per cent of the global population and has a combined gross domestic product of USD 2.8 trillion.

Nepal Chamber of Commerce has proposed the Indian side for building a common road network among the BIMSTEC nations, the business body said in a statement on Wednesday.

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The decision was made during a meeting with Mahendra P Lama, Chief Economic Advisor of the Sikkim government and Abjeet Kumar Bejbaruwa, Senior Economic Advisor to North-East Development Finance Corporation at the chamber's office in Kathmandu on Wednesday.

The chamber made a request to build the BIMSTEC road network and to create a conducive business environment among the member countries, Rajendra Malla, President of the chamber, said.

If the BIMSTEC nations can create a conducive business atmosphere in the sub-region by building the road network, all the member countries could be benefitted, Malla said.

The BIMSTEC countries could achieve the common objective of economic development by developing a common road network in the sub-region, he said.

He also stressed the need for facilitating Nepal's export trade in order to minimise the huge trade deficit the country is facing with India.

Pointing to the fact that Nepal's 70 per cent 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 hydroelectricity could be easily exported to both India and Bangladesh.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)