Nepal-India JBF meet emphasises expansion of bilateral trade
KATHMANDU: The second meeting of Nepal-India Joint Business Forum (JBF) concluded on Saturday, emphasising the expansion of bilateral trade and business. The meeting aimed to further deepen economic and business relations between the two countries.
Minister for Industry, Commerce, and Supplies, Damodar Bhandari, stated that India is Nepal's largest trading partner and that both countries should implement the decisions of the JBF meeting. He also highlighted the importance of addressing issues related to import and export between the two nations more effectively.
Ministry of Industry, Commerce and Supplies Secretary Gobinda Bahadur Karkee underscored the need for practical implementation of the topics decided at the JBF meeting.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal noted the immense potential in the economic sector between Nepal and India. He emphasised the need for policy reforms and the exploration of practical solutions to address problems in both trade and business sectors. Dhakal called for the removal of non-tariff barriers, resolution of issues arising from the Bureau of Indian Standards (BIS) certification process for Nepali exports, improved air connectivity between Bhairahawa and Pokhara airports in Nepal with various Indian cities, and the smooth supply of explosives required for hydroelectric projects.
Dhakal also raised the topic of expanding Nepal's access to Indian ports, including Mundra (Gujarat), Dhamra (Odisha), and Jawaharlal Nehru Port (Mumbai).
The JBF meeting, part of the Nepal-India Commerce Secretary-level Meeting, saw representatives from both countries discuss trade, investment, energy, tourism, agriculture, information technology, and infrastructure development, among other topics.
An agreement was reached to promote clean energy through collaboration in hydroelectricity, renewable energy, solar and wind projects, tourism and connectivity, easing trans-border trade by strengthening road, railway, and air connectivity, enhancing trade and cross-border investment, agriculture and medicinal plants, providing high-yielding seeds and technology by removing quotas for agricultural productions, collaboration in research and commercialisation of medicinal herbs, and cooperation in digital technology and startups.
The agreed-upon topics were handed over to the Commerce Secretaries of Nepal and India on Saturday. JBF President Bhawani Rana and Santhil Kumar handed over the agreement to the Commerce Secretary of India, Sunil Barthwal, and Nepal's Commerce Secretary, Karkee.
The Indian Commerce Secretary expressed his commitment to initiating the implementation of the agendas raised during the JBF meeting. Indian Ambassador to Nepal, Naveen Srivastava, said the meeting was crucial for addressing economic issues between the two countries and pledged to facilitate the topics raised.
JBF Nepal President Bhawani Rana reiterated the extensive potential for investment and trade between Nepal and India, emphasising the need for necessary facilitation to benefit from this potential. N Sunil Kumar, from the Indian side, believed that improved road, railway, and air connectivity between Nepal and India would bring more convenience in the coming days.
It was agreed that the next JBF meeting will be held in New Delhi, India.
