Nepal-India Summit Pushes for Enhanced Trade Connectivity

The recent Nepal-India Multimodal Logistics and Connectivity Summit in Birgunj brought stakeholders together to discuss ways to improve Nepal's foreign trade competitiveness, particularly in relation to India. Here's a summary of the key points in a similar style:

· Infrastructure Upgrade a Priority: Stakeholders emphasized the need for comprehensive improvements to Nepal's transportation infrastructure. This includes better roads, railways, and integrated check posts (ICPs) at border crossings.

· Modernizing Trade Agreements: Reviewing and updating the Nepal-India Trade and Transit Treaty was highlighted as crucial for smoother trade flow. Ishwarraj Paudel, Nepal's Consul General in Kolkata, stressed the importance of effective implementation of existing agreements.

· Leveraging New Opportunities: Paudel pointed to the potential of the upcoming Tajpur seaport in West Bengal, India, as a more convenient option for Nepal's trade with third countries.

· India's Efforts: Indian Consul General Devi Sahay Meena highlighted India's initiatives to improve border infrastructure, including ICPs, ports, and transportation networks. Additionally, Meena mentioned duty-free access and concessions offered by India to boost Nepal's exports.

· Nepal's Focus on Multimodal Transport: Ashish Gajurel, from the Nepal Intermodal Transport Development Committee, emphasized the government's commitment to multimodal transport. This includes dry ports, railways, and discussions for a new port in Dodhara Chandani.

· Investment in Infrastructure: Sushil Bhatt, CEO of the Investment Board Nepal, shared progress on transformational plans for the transport sector. A detailed feasibility study for the Seti Reservoir project, expected by September, is an example of this focus.

· Private Sector Collaboration: Discussions with the private sector for operating trains at the Biratnagar ICP showcase Nepal's openness to collaboration.

· Logistics Hubs Planned: The government's plan to establish logistics hubs in all seven provinces reflects a commitment to streamlining trade across the country.

· Investment and Trade Promotion: Abhishek Chaudhary, president of the Nepal-India Chamber of Commerce and Industry Birgunj, emphasized the link between improved infrastructure and attracting investment.

This summit highlighted the joint efforts needed to strengthen Nepal-India trade ties. By addressing infrastructure gaps, reviewing trade agreements, and exploring new opportunities, both nations can create a more efficient and competitive trade environment.