Jitendra Basnet, spokesperson for the Ministry of Industry, Commerce and Supplies, said that the protocol amendment is expected to reduce both Nepal's transit costs and time and make a significant contribution to trade facilitation.
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With the amendment to the protocol of the transit treaty between Nepal and India, all types of cargo (goods) can now be transported to Bhairahawa via Kolkata and Visakhapatnam, Biratnagar (Jogbani) and Nautanwa (Sunauli) routes.
Jitendra Basnet, spokesperson for the Ministry of Industry, Commerce and Supplies, informed that the amendment is expected to reduce both transit costs and time for Nepal and make a significant contribution to trade facilitation.
Minister for Supplies Anil Kumar Sinha, while on his way to Visakhapatnam, India, met with Indian Minister for Commerce and Industry Piyush Goyal at the Indian Commerce Building in New Delhi today. On that occasion, the two countries formally exchanged the revised protocol of the transit treaty.
Earlier, only four types of bulk goods could be transported by rail from both the border points, but now all types of cargo can be sent by rail and road, said spokesperson Basnet.
The ministry stated that detailed discussions were held during the meeting on bilateral trade, transit arrangements, trade infrastructure development and investment promotion between Nepal and India. Minister Sinha emphasized the need to simplify the certification process to facilitate trade and transit between the two countries.
On the occasion, Minister Sinha praised India's 'Neighborhood First Policy' and noted the need for further cooperation and coordination in the areas of bilateral trade, transit and investment promotion in line with that policy. Indian Minister Goyal said that Nepal is a country of special priority for India and directed the officials of both countries to bring the issues under discussion to an early conclusion.
Nepali Ambassador to India Shankar Sharma and senior officials of the concerned ministries of both countries were present in the meeting on behalf of Nepal.
