Sunday, March 08, 2009

Bilateral Cooperation: India, Nepal agree on trade, border control

IRNA reports Nepal and India have agreed to adopt various mechanisms to control unauthorized trade over the porous Indo-Nepal border.

An agreement to this effect was reached at the two-day bilateral trade treaty review meeting, which concluded in Kathmandu.

Talking to newsmen, Joint Secretary Nepal's Ministry of Commerce and Supplies Surya Prasad Silwal, who led the Nepalese delegation at the talks, said India has agreed to accord the same facilities while trading in Indian currencies as in the dollars, All India Radio (AIR) reported.

This will eliminate the Duty Refund Procedure (DRP) -- a mechanism pursued by the two countries to refund to Nepal excise duty paid on imports.

Silwal said the two countries have also decided to open bilateral trade through air transport. So far, the treaty recognized trade over land routes only.
Published by Mike Hitchen, Mike Hitchen Consulting
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