Nepal-India Joint Business Forum emphasizes trade expansion
KATHMANDU, JANUARY 12: The second meeting of the Nepal-India Joint Business Forum (JBF) concluded on Saturday, prioritizing the expansion of bilateral trade and business relations.
Industry, Commerce, and Supplies Minister Damodar Bhandari highlighted India as Nepal's largest trading partner, emphasizing the need to implement the JBF's decisions. He stressed the importance of streamlining import and export processes between the two nations.
Ministry Secretary Govinda Bahadur Karki echoed the need for practical implementation of the JBF’s agenda.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal emphasized the significant potential for economic cooperation between Nepal and India. He advocated for policy reforms and practical solutions to address challenges in the trade and business sectors.
Dhakal specifically called for the removal of non-tariff barriers, resolution of issues related to Indian Standards Bureau (BIS) certification for Nepali exports, enhancement of air connectivity between Nepal and India (including Bhairahawa and Pokhara airports), ensuring smooth supply of explosives for hydropower projects, and expanding Nepal’s access to Indian ports (Mundra, Dhamara, Jawaharlal Nehru).
The JBF meeting, part of the Nepal-India Commerce Secretary-level Meeting, discussed trade, investment, energy, tourism, agriculture, information technology, and infrastructure development.
The meeting reached agreements on promoting clean energy through collaboration in hydropower, renewable energy, and solar and wind projects, enhancing tourism and connectivity, streamlining trans-border trade through improved road, railway, and air connectivity, boosting trade and cross-border investment in agriculture and medicinal plants, providing high-yielding seeds and technology by removing agricultural production quotas, collaboration in research and commercialization of medicinal herbs, and cooperation in digital technology and startups.
The agreed-upon topics were presented to the Commerce Secretaries of Nepal and India.
Indian Commerce Secretary Sunil Barthwal expressed commitment to implementing the JBF’s agenda. Indian Ambassador to Nepal, Naveen Srivastava, emphasized the importance of the meeting in addressing economic issues between the two countries and pledged to facilitate the implementation of the JBF’s recommendations.
JBF Nepal President Bhawani Rana highlighted the significant potential for investment and trade between Nepal and India, emphasizing the need for facilitation. N Sunil Kumar from the Indian side acknowledged the improving road, railway, and air connectivity between the two countries.
The next JBF meeting will be held in New Delhi, India.
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