India-Nepal Discuss Infrastructure And Trade Treaties

ENA Sectors 2025-01-13 13:58:01 New Delhi, Jan 13 (KNN) In a significant development for Indo-Nepali economic relations, the India-Nepal Inter-Governmental Committee (IGC) on Trade, Transit, and Cooperation to Combat Unauthorised Trade convened in Kathmandu on January 10-11, 2025. The Indian delegation was led by Commerce Secretary Sunil Barthwal, while Nepal's Ministry of Industry, Commerce and Supplies Secretary Gobinda Bahadur Karkee headed the host nation's team. The high-level meeting conducted a thorough review of bilateral trade and economic relationships, addressing crucial aspects including market access, intellectual property rights, and duty-related matters. Discussions centred on potential amendments to existing trade and transit treaties, standards harmonisation, and infrastructure development, with particular emphasis on the electrification of the Raxaul-Birgunj rail corridor. A notable outcome of the talks was India's acceptance of Nepal's request for 200,000 metric tonnes of wheat supply. India also extended accommodations regarding axle weight regulations for Nepali vehicles operating on the Kakarbhitta-Banglabandha route via Phulbari, aligning with Indian Ministry of Road Transport and Highways standards. Additionally, India announced the inclusion of Sal Seeds and Chayote in its Plant Quarantine Order, along with accepting several plant extract products into its list of processed items. The dialogue addressed specific trade concerns, with Nepal showing willingness to review documentation for products like EPAQUE and POLYHIDE 28. Discussions also touched upon Indian milk exports to Nepal, with Nepali officials indicating positive consideration for specific dairy products not sufficiently produced within their borders, such as whey and cheese. Both nations expressed commitment to enhancing cross-border connectivity through the development of new Integrated Check Posts and railway links. The formation of a Joint Working Group was agreed upon to facilitate discussions on the acceptance of Online Certificate of Origin with Nepal and SAFTA. This meeting followed an earlier Inter-Governmental Sub-Committee gathering held from January 12-13, 2024, in Kathmandu. Parallel to the main discussions, the second Joint Business Forum was organised by the Confederation of Indian Industries and Federation of Nepalese Chambers of Commerce and Industry on January 11. Co-chaired by Indian Oil Corporation's Director N. Senthil Kumar and Investment Board of Nepal member Bhawani Rana, the forum provided a platform for businesses to present suggestions on improving bilateral trade and investment conditions. The Indian Ministry of Commerce & Industry emphasised India's position as Nepal's largest trade and investment partner, highlighting the IGC discussions' potential to further strengthen economic ties between the neighbouring nations. The comprehensive nature of these talks underscores the mutual commitment to fostering deeper commercial relationships and addressing bilateral trade challenges. (KNN Bureau) 40616 https://knnindia.co.in/news/newsdetails/sectors/india-nepal-discuss-infrastructure-and-trade-treaties 2025-01-13 13:58:01 knnindia.co.in India-Nepal Discuss Infrastructure And Trade Treaties