Nepal-India Joint Business Forum Strengthens Trade and Investment Cooperation

The second meeting of the Nepal-India Joint Business Forum (JBF), held at Chandragiri in Kathmandu, concluded with both nations committing to bolster trade and investment ties. Participants from Nepal and India discussed a wide range of issues, including energy, tourism, agriculture, information technology, and infrastructure development, aiming to deepen their economic and commercial relations.

Key agreements reached during the meeting include removing agricultural quotas, providing advanced seeds and technology, promoting research and commercialization of medicinal plants, and fostering collaboration in digital technology and startups.

Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) emphasized the untapped economic potential between the two nations. He urged policy reforms to address trade barriers, streamline the Bureau of Indian Standards (BIS) certification process for Nepali exports, and ensure an uninterrupted supply of construction materials like explosives for hydropower projects. He also advocated for expanded access to Indian ports, such as Mundra, Dhamra, and Jawaharlal Nehru, and improved connectivity between Indian cities and Nepal’s Bhairahawa and Pokhara airports.

The meeting’s outcomes were formally presented to the Commerce Secretaries of both countries. Forum Chairs Bhawani Rana (Nepal) and N. Sunil Kumar (India) handed over the resolutions to Indian Commerce Secretary Sunil Barthwal and Nepal’s Commerce Secretary Govinda Bahadur Karki.

During an interaction program following the forum, Nepal’s Minister for Industry, Commerce, and Supplies, Damodar Bhandari, reaffirmed the importance of India as Nepal’s largest trading partner and called for the smooth implementation of the forum’s agreements. Commerce Secretaries Karki and Barthwal echoed this sentiment, pledging to work toward practical execution of the agenda items.

Indian Ambassador to Nepal Naveen Srivastava and Forum Chairperson Bhawani Rana highlighted the potential for further economic collaboration, emphasizing the importance of facilitation and improved connectivity.

The forum concluded with an agreement to hold its next meeting in New Delhi, India, signifying the ongoing commitment to fostering stronger bilateral economic ties.