India, Nepal to reinforce bilateral ties

New Delhi: India and Nepal have resolved to work towards reinforcing bilateral economic ties with a view to help generate employment opportunities and enhance industrialisation in Nepal.

At the Inter Governmental Committee meeting on Trade, Transit and Cooperation to control unauthorised trade, held here, the Commerce Secretary, Mr Gopal K. Pillai, and Mr Purushottam Ojha, Secretary, Ministry of Commerce & Supplies, Government of Nepal, led the respective delegations. Reiterating India’s commitment to continue to provide preferential access to Nepalese goods and products to the Indian market, Mr Pillai urged Nepal to work towards creating an investor-friendly and enabling business environment with a view to attract Indian investments. Towards this end, both sides agreed to conclude Bilateral Investment Promotion and Protection Agreement, Motor Vehicles Agreement and revised Double Taxation Avoidance Agreement at the earliest. India also agreed to support a project for technical capacity building of Nepalese labs so that they can conform to Indian standards, in respect to major products of their export interest.