New Delhi [India], September 18 (ANI): India and Nepal reviewed a wide range of trade, transit and connectivity issues during the meeting of the India-Nepal Inter-Governmental Sub-Committee (IGSC) on Trade, Transit and Cooperation to Control Unauthorised Trade held in New Delhi on September 16-17, according to the Ministry of Commerce and Industry.
The Indian delegation was led by Joint Secretary, Department of Commerce, Ujjwal Kumar Ghosh, while the Nepali delegation was led by Joint Secretary, Ministry of Industry, Commerce and Supplies, Buddha Bahadur Gurung. Senior officials from the concerned ministries and departments of both countries participated in the meeting.
The IGSC serves as an institutional mechanism for detailed examination of trade and trade-related issues and for facilitating bilateral trade and transit, the ministry said.
During the meeting, both sides discussed market access, Customs and trade facilitation, standards, food safety, phytosanitary measures, pharmaceuticals, medical devices, AYUSH products, border infrastructure, and rail and road connectivity.
The two sides considered measures to facilitate greater market access for Indian and Nepali products, including agricultural and dairy products, food products, pharmaceuticals, medical devices and AYUSH products.
They also discussed strengthening Customs cooperation through measures such as pre-arrival exchange of information, electronic verification of Certificates of Origin, Customs automation and digitalisation.
The discussions focused on facilitating legitimate trade while strengthening mechanisms to ensure compliance with applicable rules and prevent misuse of preferential trade arrangements, according to the press release.
Transit and connectivity also featured prominently, with both sides reviewing rail and road connectivity, freight movement, Integrated Check Posts and land-port infrastructure.
The two sides discussed improving the utilisation of existing infrastructure and addressing operational bottlenecks affecting bilateral and transit trade.
India and Nepal also welcomed continued cooperation in standards, food safety, plant quarantine and conformity assessment, including institutional cooperation and capacity-building initiatives.
Both sides emphasised continued cooperation among relevant agencies to facilitate legitimate cross-border trade and address issues related to unauthorised trade and commercial fraud.
The meeting was held in a cordial and constructive atmosphere, with both sides agreeing to maintain close engagement through established institutional mechanisms and pursue time-bound follow-up on issues requiring further technical examination.
India and Nepal share close historical, cultural and economic ties, with India remaining Nepal's largest trading partner and an important source of investment, the ministry said.
The developments come as Nepal's Finance Minister Swarnim Wagle is on a three-day visit to Delhi starting Thursday.
On Thursday, Union Finance Minister Nirmala Sitharaman met Nepal's Finance Minister Swarnim Wagle in New Delhi to discuss bilateral economic ties and India's commitment to supporting Nepal's flood recovery and rehabilitation efforts.
The high-level meeting took place during Wagle's first official visit to India since assuming office as Nepal's Finance Minister. India's Foreign Secretary and the Secretary of the Department of Economic Affairs also attended the discussions.
Expressing sympathy over the destruction caused by recent natural calamities in Nepal, the Ministry of Finance said in a post on X, "FM Smt. Nirmala Sitharaman conveyed her condolences on the loss of lives in the recent floods in Nepal, and conveyed India's continued support for Nepal's recovery and rebuilding efforts."
The ministry noted that the dialogue centred on "the impact of the floods and Nepal's priorities for reconstruction and rehabilitation". The Nepali delegation acknowledged the prompt assistance provided by New Delhi.
"Dr Wagle thanked the Union Finance Minister for India's support and expressed appreciation for the assistance extended by India, including relief supplies and technical support for rescue and relief efforts," it added.
Beyond disaster response, both finance ministers discussed key areas of bilateral collaboration, focusing on infrastructure and cross-border connectivity to strengthen economic ties.
"The discussions covered strengthening of bilateral economic ties in various areas, as well as initiatives to enhance connectivity for deepening of trade, investments and people-to-people exchanges."
"Both sides emphasised the importance of further strengthening the trade and economic partnership between India and Nepal."
Following the bilateral talks, Charge d'Affaires Surendra Thapa hosted a dinner in honour of the visiting Nepali Finance Minister in the national capital.
The Embassy of Nepal in India said in a post on X that during an interaction with diplomatic staff, Wagle "exchanged views with Embassy officials on Nepal-India economic relations and encouraged them to continue working proactively to further strengthen bilateral economic engagement."
Ahead of Nepal Finance Minister Swarnim Wagle's arrival in Delhi on Thursday, the Nepal Ministry of Finance outlined the purpose of his three-day visit, which includes a bilateral meeting with External Affairs Minister S Jaishankar.
The Nepal Ministry of Finance said in an X post that Wagle is on a three-day visit and "will hold meetings with Indian Finance Minister Nirmala Sitharaman and Foreign Minister Dr S Jaishankar."
"Post-disaster reconstruction and bilateral economic cooperation will be the main topics of the visit," the ministry said. (ANI)
India, Nepal review trade, transit issues at inter-governmental meeting in New Delhi
