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India and Nepal today agreed to resolve bottlenecks to enhance bilateral trade and boost investments between the countries.
During the two-day meeting of India-Nepal Inter -Governmental Committee on Trade, Transit and Cooperation to Control Unauthorised Trade, both the sides also discussed new issues pertaining to trade, transit, infrastructure and investments.
The Indian delegation was led by Commerce Secretary Rita Teaotia, while the Nepalese delegation was led by her counterpart Naindra Prasad Upadhaya.
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“The committee reviewed the status of bilateral trade between the two countries…and agreed to resolve bottlenecks to bolster bilateral trade,” the commerce ministry said in a statement.
It was also agreed to work out modalities for constitution of a India-Nepal Joint Business Forum and enhance the scope of the committee to discuss wider economic cooperation.
Both sides agreed to hold the next meeting in Nepal.
The bilateral trade between the countries stood at USD 4.27 billion in 2015-16 as against USD 5.19 billion in the previous fiscal. PTI RR MR 06302113
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