Kathmandu, 14 Nov: The protocol of the Transit Treaty between Nepal and India has been amended, and now all types of cargo can be transported up to Birgunj via Kolkata and Visakhapatnam, Biratnagar (Jogbani), and Nautanwa (Sunauli).
It is expected that the amendment will reduce both the transportation cost and time for Nepal and make a significant contribution to trade facilitation, informed Spokesperson of the Ministry of Industry, Commerce and Supplies, Jitendra Basnet.
Supply Minister Anil Kumar Sinha, who is on a visit to Visakhapatnam, India, met with Indian Minister of Commerce and Industry Piyush Goyal at the Commerce House in New Delhi, India today.
On the occasion, the amended protocol of the Transit Treaty between the two countries was formally exchanged.
Spokesperson Basnet informed that previously, only four types of bulk cargo could be transported by rail through these two points of entry, but now all types of cargo can be sent by rail and road.
During the meeting, there was a detailed discussion on bilateral trade between Nepal and India, transit arrangements, trade infrastructure development, and investment promotion, the Ministry said. Minister Sinha emphasized the need to simplify the certification process for trade and transit facilitation between the two countries.
On that occasion, Minister Sinha praised India’s ‘Neighbourhood First’ policy and mentioned that further cooperation and coordination in the areas of bilateral trade, transit, and investment promotion is necessary in accordance with this policy. Indian Minister Goyal stated that Nepal is a country with special priority for India and directed the officials of both countries to promptly conclude the issues discussed.
The meeting was attended by Nepali Ambassador to India Dr. Shankar Sharma on behalf of Nepal, along with senior officials from the concerned ministries of both countries. Trade with India is many times higher than with other countries, and the trade deficit is also very large
