Crucial meeting on combating unauthorised trade between India and Nepal concludes; both sides decide to enhance trade infrastructure: Indian Embassy

India and Nepal have concluded a crucial joint meeting on combating unauthorised trade, and highlighted the need to review the strategies for enhancing investments and development of commercial infrastructure between the two nations, the Indian Embassy here said in a statement.

The India-Nepal Inter-Governmental Sub-committee (IGSC) on Trade, Transit and Cooperation on Combating Unauthorised Trade also called for strengthening the seamless cross-border connectivity between India and Nepal, including through construction of new integrated check post and railway links. "The agenda of the meeting of the IGSC also covered discussions on review of the Treaty of Transit and the Treaty of Trade, proposed amendments to existing agreements, strategies for enhancing investment, the harmonisation of standards and synchronised development of trade infrastructure," said the statement.

During the meeting Indian side highlighted the need for an Intellectual Property Rights regime by the provisions of the Paris Convention for encouraging Foreign Direct Investment. "Both the sides discussed mutual market access for pharmaceuticals and Ayurvedic products," said the statement. Shiv Vipul Bansal, Joint Secretary at the Ministry of Commerce, led the Indian delegation while the Nepalese side was led by Ramchandra Tiwari, Joint Secretary at Ministry of Industry, Commerce and Supplies. "One of the highlights of the meeting was the focus on bilateral initiatives aimed at further strengthening the seamless cross border connectivity between India and Nepal including through construction of new integrated check post and railway links," said the statement.