India and Nepal hold virtual meeting to review progress on multiple bilateral agenda items

The Indian embassy in Kathmandu informed that the India-Nepal Inter-Governmental Committee (IGC) on Trade and Transit's virtual meeting was held on Monday. During the meeting, both the countries reviewed the progress made on multiple bilateral agenda items including review of treaties of trade and transit. The meeting was led by commerce secretaries of both sides. The IGC is the top bilateral mechanism to review and set the way forward for further enhancing bilateral trade and economic ties. 

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The statement by Indian embassy read, "Anup Wadhawan, Commerce Secretary, Government of India was accompanied by the Ambassador of India to Nepal Vinay Mohan Kwatra and a 15 member delegation drawn from various Ministries and the Indian Embassy in Kathmandu, while his counterpart, Baikuntha Aryal, Secretary (Commerce & Supplies) of Nepal was assisted by representatives of various Ministries and Departments of Government of Nepal."

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India, Nepal review progress on multiple bilateral agenda

As per the information shared by the Indian embassy, the meeting ended with both sides reviewing the progress made on the development of trade, infrastructure as well as investment promotions including the new proposal of development of cross-border economic zones and holding meeting of Joint Business Forum. During the meeting, the secretaries for both countries noted with appreciation that despite the COVID-19 pandemic, there was a "smooth and unimpeded" trade and commercial cargo movement by trucks across the land borders with support and facilitation of both government.

Embassy said, "The wide-ranging discussions today and the progress made in the meeting are expected to further support the expansion in economic and commercial ties between India and Nepal."

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Earlier on December 3-4, 2020, an Inter-Governmental Sub-Committee (IGSC) meeting at the level of Joint Secretaries was held in the preparation for IGC meeting. This meeting was held days after Foreign Secretary Harsh Vardhan Shringla had visited Nepal. During his visit, Shringla had called on Nepal President Bidya Devi Bhandari and Prime Minister KP Sharma Oli leadership. He also met Nepal Foreign Minister Pradeep Kumar Gyawali and his Nepali counterpart Bharat Raj Paudyal. As per the information from the Indian embassy, India remains the largest trade and investment partner of Nepal both in terms of Nepali imports and exports. "In fact, India is the only trading partner of Nepal with whom Nepali exports have consistently increased in the last two to three years," it added.

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(With ANI inputs, Image: ANI)