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India and Nepal Review Progress on Broad Bilateral Agenda | India News

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KATHMANDU: A meeting of the India-Nepal Intergovernmental Committee on Trade and Transit (IGC) was held on Monday, during which both sides reviewed progress made on a broad bilateral agenda, including the review of trade and transit treaties, stated the Embassy of India here.
The virtual meeting was led by secretaries of commerce from both countries. The IGC is the main bilateral mechanism to review and establish the way forward to further improve bilateral trade and economic ties.
“Anup Wadhawan, Secretary of Commerce of the Government of India was accompanied by the Indian Ambassador to Nepal, Vinay Mohan Kwatra, and a 15-member delegation from various Ministries and the Indian Embassy in Kathmandu, while his counterpart , Baikuntha Aryal, Secretary (Trade and Supplies) of Nepal was assisted by representatives of various ministries and departments of the Nepalese government, “the embassy statement read.
According to the Indian embassy, ​​the meeting concluded with the review of both sides of the progress made in the development of commercial infrastructure, as well as investment promotions, including the new proposal for the development of cross-border economic zones and the holding of the meeting of the Joint Business Forum.
During the meeting, both trade secretaries noted with appreciation that despite the COVID-19 pandemic, there was a “smooth and unhindered” trade and commercial cargo movement in trucks across the land border with the support and facilitation from both governments, the embassy said.
“Today’s extensive discussions and progress made at the meeting are expected to further support the expansion of economic and trade ties between India and Nepal,” he added.
The Intergovernmental Subcommittee (IGSC) at the level of Co-Secretaries met on December 3-4, 2020 in preparation for the IGC meeting.
The meeting took place days after Foreign Secretary Harsh Vardhan Shringla visited Nepal. During his visit, Shringla had appealed to the Nepalese leadership President Bidya Devi Bhandari and Prime Minister KP Sharma Oli.
Shringla had also met with Nepalese Foreign Minister Pradeep Kumar Gyawali and his Nepalese counterpart, Bharat Raj Paudyal.
The embassy said that India remains Nepal’s largest trading and investor partner both in terms of Nepalese imports and Nepalese exports.
“In fact, India is the only trading partner of Nepal with which Nepalese exports have increased steadily in the last two to three years,” he added.

Times of India

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