India, nepal discuss about cross border economic zone creation

A virtual meeting of the bilateral inter-governmental committee from India and Nepal on Monday reviewed the development of cross-border trade infrastructure and discussed ways to boost trade and investment, including the creation of cross-border economic zones. The meeting on trade and transit, considered as another step towards the normalisation of ties that were hit by a border row earlier this year. 

Nepal had hinted its desire to review various issues related to trade and transit arrangements during foreign secretary Harsh Shringla’s visit to Kathmandu last month. A statement from the Indian embassy in Kathmandu said 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 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 from embassy said. The inter-governmental committee is the apex bilateral mechanism to review and set the way forward for bilateral trade and economic ties. Commerce secretary Anup Wadhawan and his Nepalese counterpart Baikuntha Aryal chaired the meeting and attended by representatives of different ministries from both sides.

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