- At the Inter-Governmental Committee meeting between the India and Nepal, the two countries have agreed to address each other’s concerns on commerce and transit, including reduction of tariff barriers and checking illegal trade along the porous border between the two countries.
- It was in direction to step up efforts to check unauthorised trade and control trade in fake Indian currency.
- The two sides have agreed on a 14-point agenda to enhance trade, promote cooperation and address concerns of the private sector of both sides.
Other concerns over which the two countries have agreed on:
- With increasing demand from Nepal for milk and dairy products, the Indian side has agreed to provide 10,000 cows.
- Nepal has agreed to adjust the 5% agriculture reforms charge it has been charging on Indian exports. While India has agreed to resolve difficulties related to export of Nepali books and newspapers.
- The two sides agreed to make institutional arrangements to facilitate third country import and export to build infrastructure in newly identified customs points.
- India would provide technical assistance that can enhance the competitiveness of Nepalese exports; basically India would be looking forward to enhancing the capacity building in areas required by the government of Nepal.
- Nepal’s abundant natural resources, like its hydropower potential, can be tapped for the prosperity of the country and surplus power exported to India and other countries. The government of India has unilaterally made this possible by moving power trading or power export-import into India from a restricted category to the open general category. This would permit power generated in Nepal to be supplied to the entire subcontinent.
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