Nepali and Indian Commerce Ministry officials are scheduled to meet on Thursday to discuss issues related to trade and commerce between the two countries and reviewing the Nepal-India bilateral trade treaty.
This is the third time that related officials of the two countries are sitting together to discuss the groundwork and other provisions to review the trade treaty. The committee led by Joint Secretary at the Ministry of Industry, Commerce and Supplies Nabaraj Dhakal comprises representatives from the Ministry of Foreign Affairs, Department of Customs and Ministry of Agriculture and Livestock Development, among others.
Prior to this, Commerce Ministry officials of the two countries had held meetings on reviewing the bilateral trade treaty in New Delhi on August 9 and in Pokhara on February 7 and 8.
Among others, the two-day meeting will dwell on ways to address Nepal’s ballooning trade deficit with India and introduce and amend provisions in the trade treaty to ease bilateral trade.
“The meeting will finalise agendas for reviewing trade treaty, which were discussed during previous two meetings,” said Dhakal, adding that Nepal’s priority will be to simplify country’s trade with India by addressing tariff and non-tariff barriers.
Similarly, the government has also urged Indian authorities to allow shipment of bulk cargo from additional entry points. Currently, imported bulk cargo from third countries can be transported only via Brigunj. Nepal has also urged Indian authorities to lift quantitative import restrictions on different products, including vegetable ghee and yarn. “All these issues will be discussed thoroughly at the meeting.”
However, the meeting will not be decisive on reviewing the trade treaty.