The India-Nepal Inter-Governmental Committee held a meeting on Friday on matters related to trade and transit, ANI reported. The virtual meeting was led by commerce secretaries of both countries.
The meeting reviewed the development of cross-border trade infrastructure and discussed ways to promote investments, including a new proposal on developing cross-border economic zones and holding a meeting of the joint business forum, the Hindustan Times reported, quoting a statement from the Indian embassy in Kathmandu.
“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,” the statement said.
The commerce secretaries of the two countries noted that despite the Covid-19 pandemic, trade and commercial cargo in trucks across the land border remained smooth.
The meeting was held days after Foreign Secretary Harsh Vardhan Shringla visited Nepal. During his visit, Shringla had called on Nepali leadership President Bidya Devi Bhandari and Prime Minister KP Sharma Oli.
The embassy also said that 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,” the statement said.
The meeting was held days after Foreign Secretary Harsh Vardhan Shringla visited Nepal. During his visit, Shringla had called on Nepali President Bidya Devi Bhandari and Prime Minister KP Sharma Oli.