Friday, April 23, 2021

As Nepal’s Trade Deficit Rises, Kathmandu Looking For Preferential Trade Agreement with India

Delegates from India and Nepal will meet to review the trade treaty between the two countries in Pokhara. India and Nepal are trying to find a solution to different non-tariff barriers existing in bilateral trade.

Nepal and Bhutan: Natural Partners of India: Army Chief

This is the second round of Joint Secretary-level meeting between India and Nepal to study the trade agreement that was approved by the two countries in 2009. The two-day Joint-Secretary level meeting will raise issues related to Nepal’s rising trade deficits with India and magnifying exports through tariff reduction.

The Joint Secretary at Nepal’s Ministry of Commerce, Industry, and Supply, Ravi Shankar Saiju said: “As Nepal’s trade deficit with India is growing day by day we will discuss in detail on how to address the issues related to reducing the trade deficit and seek wider access to the Indian market for our products.”

This meeting seems to be significant as Nepal may request India for preferential trade agreement for exporting agricultural products and also talk with respect to the union of Nepali manufacturing units with its value chain. Both India and Nepal may consider possible ways to address diverse non-tariff barriers in bilateral trade. The first meeting between the two countries was held in New Delhi in August 2018.

More News at EurAsian Times

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