Union Minister Favors Liberal Trade Polices with Nepal
Patna: April 27, 2008
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Indo-Nepal Meet
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Photo by Shashi Uttam |
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On the second and concluding day of the ongoing seminar on the "Emerging Trends in India-Nepal Relations", Union Minister of State for Commerce and Power Jairam Ramesh talked about the need for expanded trade between the two nations while offering technical and financial assistance in energy and water management areas.
Promising to ease trade tariff between India and Nepal, Ramesh said that it was alarming to note that while India was exporting goods worth over $930 million to Nepal, it imported items from Nepal only about one-third of its export.
"This disparity must be overcome and the Government of India is willing to play its role in fostering better trade relations with its neighbors," the Union Minister said.
Suggesting a liberal economic policy for Nepal, Ramesh said Indian industries should be allowed to invest in Nepal that, in turn, could sell the goods back to India thus bringing some balance to its export-import ratio.
Several Indian companies have already reached agreement with the Nepalese government for improvement in the power sector, the minister said adding Nepal would benefit from the added power production while selling off any surplus power to India.
Ramesh also talked about building four check posts on Indo-Nepal border and a 1,500 kilometer road connection between the two neighboring nations to enhance bilateral trade.
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