Australia and Nepal Strengthen Economic Ties with Signing of Trade Agreement

Assistant Minister for Foreign Affairs, Tim Watts, reaffirmed the close friendship between Australia and Nepal, highlighting the deep people-to-people connections that underpin their relationship. He noted that Nepali Australians represent the fastest-growing migrant community in Australia.

Reflecting on his visit to Nepal last year, Minister Watts emphasized his commitment to further enhancing the strong bilateral ties between the two nations. During his trip, he engaged with government officials and leaders from various sectors to explore opportunities for collaboration.

In discussions with Nepali Foreign Minister Narayan Prakash Saud, Minister Watts focused on avenues to deepen economic cooperation between Australia and Nepal. Subsequently, officials from both countries collaborated on developing a formal agreement to strengthen economic links.

Today, in Perth, this collaboration culminated in the signing of the Nepal-Australia Trade and Investment Framework Agreement (TIFA). Minister Watts and Foreign Minister Saud reconvened to formalize this agreement, marking a significant milestone in the bilateral relationship.

The signing of the TIFA underscores the commitment of both countries to fostering robust economic ties and creating opportunities for mutual prosperity. Minister Watts expressed optimism about the future growth of the economic relationship between Australia and Nepal, signaling a promising trajectory for bilateral cooperation.


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