Nepal, India sign four agreements relating to network expansion, trade, water resources, power trade

KATHMANDU: The seventh meeting of the Nepal-India Joint Commission concluded by signing four agreements on Thursday. 

The meeting reviewed the entire gamut of bilateral relations and cooperation. The two countries signed agreements relating to bilateral network expansion, trade, water resources, and power trade. 

The agreements were signed in the presence of Foreign Minister Narayan Prakash Saud and Indian External Affairs Minister Subrahmanyam Jaishankar.

Spokesperson at the Ministry of Foreign Affairs, Amrit Bahadur Rai, informed that Nepal and India signed an agreement on Indian grant assistance for the implementation of high-impact community development through government agencies or corporations.

Other agreements signed by the two countries include long-term energy trade;  cooperation between Nepal Electricity Authority and National Thermal Power Corporation on development of renewal energy; and between Nepal Academy of Science and Technology (NAST) and New Space India (NSI) on launch of Nepali satellite.  

As per power trade agreement, Nepal will export 10,000 Megawatts (MW) of electricity to India in 10 years.

Meanwhile, a 132kV interstate transmission lines- Raxaul-Parwanipur, Mainahiya- New Nautanawa, and Kushaha-Kataiya were inaugurated on Thursday itself.

The transmission lines were jointly inaugurated by Foreign Minister Saud and his Indian counterpart S Jaishankar.

The Indian government has announced Rs 10 billion grant assistance to Nepal for its post-quake reconstruction.