Nepal, India plan to implement bilateral initiatives to boost connectivity

Nepal and India have expressed a commitment to implementing bilateral initiatives aimed at further strengthening the seamless cross-border connectivity, as the officials from the two sides met to discuss ways to fortify the economic and commercial linkages.

The India-Nepal Inter-Governmental Sub-Committee (IGSC) on Trade, Transit, and Cooperation to Combat Unauthorised Trade convened its latest session in Kathmandu on January 12-13.

Both sides also discussed mutual market access for pharmaceuticals and Ayurvedic products. The Indian side highlighted the need for an IPR regime by the provisions of the Paris Convention for encouraging Foreign direct investment (FDI).

Vipul Bansal, Joint Secretary, Ministry of Commerce, Government of India, led the Indian delegation, which included senior officials from various ministries and the Embassy of India in Kathmandu.

The Nepali side was headed by Ram Chandra Tiwari, Joint Secretary, Ministry of Industry, Commerce and Supplies, Government of Nepal, accompanied by key representatives from different Nepali Ministries and Departments.

One of the highlights of this meeting was the focus on bilateral initiatives aimed at further strengthening the seamless cross-border connectivity between India and Nepal including through the construction of new Integrated Check Posts and railway links.

Both sides expressed a commitment to implementing these initiatives, reflecting the shared vision of prosperous bilateral trade.

The agenda also covered discussions on the review of the Treaty of Transit and the Treaty of Trade, proposed amendments to existing agreements, strategies for enhancing investment, the harmonisation of standards and the synchronised development of trade infrastructure.

India continues to be the principal trade and investment partner for Nepal, significantly contributing to Nepali imports and exports.

The discussions in this meeting are expected to further fortify the economic and commercial linkages between the two countries.

The IGSC is a bilateral mechanism aimed at bolstering trade and investment ties.