Nepal PM expresses concern over trade deficit with India

New Delhi [India], Sept. 16 (ANI): Expressing concern over Nepal's growing trade deficit with India, Prime Minister Pushpa Kamal Dahal, who is on a three-day visit to New Delhi, underlined the need for taking measures to enhance Nepal's exports to India. According to the joint statement, both Dahal and Prime Minister Narendra Modi expressed satisfaction at the steady growth of bilateral trade. However, Dahal expressed concern over Nepal's growing trade deficit with India and underlined the need for taking measures to enhance Nepal's exports to India. The two heads also noted the successful conclusion of the meeting of the Inter-Governmental Committee (IGC) on Trade, Transit and Control of Unauthorized Trade, at the Secretary-level in June 2016, and agreed that the IGC will continue to discuss trade infrastructure and trade facilitation related measures to boost bilateral trade. They agreed that the Trade Treaty between India and Nepal would be renewed in October 2016 in terms of provisions of the Treaty, with the aim of enhancing the bilateral trade. Both sides also agreed to hold civil aviation talks to discuss air services matters, including request for additional air routes. They noted the successful completion of two roads totalling about 71 kilometers under Phase I of Terai road project and directed the officials to expedite the construction of postal roads and feeder roads (Terai roads) and complete them expeditiously, in accordance with the modalities for implementation agreed by both sides in February 2016. The two Prime Ministers stressed the need for early development of infrastructure at integrated check posts (ICPs) to facilitate smooth and faster movement of people and goods. They noted with satisfaction the progress in construction of Integrated Check Posts (ICPs) at Raxaul and Jogbani, and agreed that work on the Raxaul-Birgunj ICP project will be expedited with the objective of completing it by December 2016. It was decided to immediately commence construction of the ICP at Biratnagar, and to expedite the Detailed Engineering Reports in respect of ICPs at Nepalgunj and Bhairahawa. While reviewing the progress made in the implementation of the two ongoing India-Nepal cross border rail-link projects - Jayanagar-Bijalpur-Bardibas and Jogbani-Biratnagar - they agreed to take further measures for expeditious completion of the projects. Both sides agreed that steps will be initiated to facilitate development of three other agreed cross-border rail-link projects so that the land acquisition can commence on the Nepali side. They directed the officials to expedite the construction of sub-station at Dhalkebar so that the Muzaffarpur-Dhalkebar transmission line can be operated at its full capacity as planned. It was decided that the construction of transmission lines from Kataiya to Kusaha, and from Raxaul to Parwanipur will be completed by December 2016 to augment grid connectivity and power supply between the two countries. The two Prime Ministers reviewed progress of other major hydro-power projects, Pancheshwar, Upper Karnali and Arun-III, and noted that various issues be addressed expeditiously with a view to implementing the projects in a time-bound manner so that their benefits start accruing to the people at the earliest. It was decided to expedite finalization of the detailed project report of the Pancheshwar multi-purpose project. (ANI)