Nepal to lobby for ‘big’ investors’ involvement while revising commerce treaty with India

Kathmandu, August 8

Commerce officials of Nepal and India are beginning a bilateral meeting in New Delhi on Thursday in a bid to revise the existing Treaty of Trade and Commerce.

Nepali officials say they will lobby for the involvement of large scale investors from the southern neighbour in Nepali industries during the meeting.

Nepal’s another priority on the agenda will be measures to reduce its ever increasing trade deficit with India. Therefore, Nepal will seek India’s assistance in developing the country as a centre of production, not only as a destination to supply consumer products.

An official at the Ministry of Industry, Commerce and Supplies says India will also be requested to establish factories of their popular products in Nepal.

“We have concluded that plants of Indian companies which have a big share in the Nepali market can be brought here,” the official informs, “Therefore, we are raising the issue of investment.”

The two governments had agreed to revise the treaty during a meeting of Inter-governmental Committee in April last week. Accordingly, Nepal is sending its eight-member delegation under the leadership of Joint Secretary at the Ministry of Industry, Commerce and Supplies, Rabi Shankar Sainju.

The two countries had last revised the treaty in 2009.

The meeting will last for two days.

Published on August 8th, Wednesday, 2018 11:15 AM

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