Nepal-India Joint Business Forum Advocates Trade Expansion and Economic Cooperation

The second meeting of the Nepal-India Joint Business Forum (JBF), held in Kathmandu, emphasized the expansion of bilateral trade and economic cooperation between the two neighboring nations. The meeting, conducted as part of the Nepal-India Commerce Secretary-level dialogue, aimed to deepen economic and business relations.

Minister for Industry, Commerce, and Supplies Damodar Bhandari highlighted India’s position as Nepal’s largest trading partner and stressed the importance of implementing the JBF’s decisions. He called for addressing obstacles in import and export processes to facilitate smoother trade between the two countries.

Govinda Bahadur Karki, Secretary of the Ministry, underscored the necessity of putting the forum’s resolutions into practical action. Similarly, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), pointed out the immense potential for economic collaboration between Nepal and India. He urged policy reforms and pragmatic solutions to tackle existing challenges in trade and business sectors.

Dhakal also called for removing non-tariff barriers, addressing issues related to the Bureau of Indian Standards (BIS) certification for Nepali exports, enhancing air connectivity between Indian cities and Nepal’s Bhairahawa and Pokhara airports, and ensuring a steady supply of construction materials like explosives for hydropower projects. He emphasized expanding Nepal’s access to Indian ports such as Mundra, Dhamara, and Jawaharlal Nehru in Mumbai.

The forum discussions covered a wide range of topics, including trade, investment, energy, tourism, agriculture, information technology, and infrastructure development. Agreements were reached on several fronts, including promoting clean energy through collaboration in hydropower and renewable energy projects, advancing tourism and connectivity, streamlining trans-border trade via improved infrastructure, and enhancing collaboration in agriculture, medicinal plants, digital technology, and startups.

Notably, the forum agreed to remove quotas on agricultural products, provide access to high-quality seeds and technology, and facilitate research and commercialization of medicinal herbs.

The meeting’s resolutions were formally handed over to the respective Commerce Secretaries of Nepal and India. JBF Presidents Bhawani Rana and Santhil Kumar presented the agreement to Indian Commerce Secretary Sunil Barthwal and Nepalese Commerce Secretary Govinda Bahadur Karki.

Barthwal assured his commitment to advancing the implementation of the forum’s agenda. Indian Ambassador to Nepal, Naveen Srivastava, emphasized the meeting’s importance in addressing economic issues and pledged his support for facilitating the agreed-upon initiatives.

JBF Nepal President Bhawani Rana reiterated the vast potential for bilateral investment and trade, urging necessary facilitation to maximize mutual benefits. Indian representative N. Sunil Kumar expressed optimism about improved convenience as road, rail, and air connectivity between the two nations progresses.

The next meeting of the Nepal-India Joint Business Forum is set to take place in New Delhi, India.