Meeting of India-Nepal Inter-Governmental Committee on Trade, Transit and Cooperation


Kathmandu, Dec. 7: The Commerce Secretaries of Nepal and India co-chaired the meeting of the Inter-Governmental Committee (IGC) on Trade, Transit and Cooperation to Control Unauthorized Trade that was held through video conferencing today.

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, Dr. Baikuntha Aryal, Secretary (Commerce & Supplies) of Nepal was assisted by representatives of various Ministries and Departments of Government of Nepal.

The IGC is the apex bilateral mechanism for promotion of trade and investments between the two countries. The meeting reviewed progress made on several notable agenda items in the sphere of trade and commerce. These included discussions on comprehensive reviews of the Treaty of Transit and the Treaty of Trade, amendments to the Rail Services Agreements, measures taken for investment promotion, constitution of Joint Business Forum, harmonization of standards as well as synchronized development of trade infrastructure on the two sides.

The two sides also discussed in detail various Government-level initiatives that need to be taken in future for further enhancing trade and commercial linkages. The Inter-Governmental Sub-Committee (IGSC) at the level of Joint Secretaries met on 3-4 December 2020 in the preparation for IGC meeting. India remains the largest trade and investment partner of Nepal both in terms of Nepali imports and Nepali 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. 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.


Related News

India extends financial assistance of Rs 37.23 million for construction of Sanitation Facility at Pashupati

Kathmandu, June 16: Embassy of India, Ministry of Federal Affairs and General Administration and the Kathmandu Metropolitan City on Monday signed an Memorandum of Understanding (MoU) for the construction of Sanitation facility within the Pashupati Area Temple Complex, a UNESCO World Heritage Site since 1979. The project will be funded under Nepal-Bharat…

UK car output plunges to lowest level since 1950s

London, July 31: British car production fell by more than an annual 40% in the first half of the year to the lowest level since 1954 as the coronavirus pandemic shut factories and dealerships, an industry body said on Thursday. Plants and retailers closed in March and only some gradually…

Round-the-clock RTGS facility from midnight

New Delhi, Dec. 14: The Real Time Gross Settlement System (RTGS) for high-value transactions will become available round-the-clock from 00:30 hours Monday onwards, making India one of the few countries in the world to operate the system 24X7. In October, the RBI had announced that RTGS will be available round-the-clock…

EU-UK trade talks slog on past another Brexit deadline

Brussels, Dec. 21: Problems increased on Monday in the bid to put a trade deal between the European Union and the United Kingdom on the rails before a Brexit transition period ends on New Year’s Day, with the EU legislature insisting ever more it will not have time to vet…

Biden names Indian-American Bharat Ramamurti as National Economic Council member

Washington, Dec. 22: US President-elect Joe Biden on Monday named Indian American Bharat Ramamurti as the deputy director of the National Economic Council, which is the White House advisory agency to the President on domestic and global economic policymaking. Joelle Gamble, who is in the Biden-Harris Transition’s domestic economic policy…

UK plans to ban unhealthy ‘buy 1 get 1 free' food promos as part of anti-obesity drive

London, Dec. 29: The UK government has set out plans to ban unhealthy promotions on food and drinks high in fat, salt or sugar from April 2022 as part of a wider anti-obesity drive. The new rules, confirmed on Monday, will prohibit retailers from offering multibuy promotions such as “buy…


Find Us on Facebook

From Social