The finance ministers of Nepal and India discussed mutual cooperation and bilateral relations on the sideline of G-20’s third Finance Ministers and Central Bank Governors (FMCBGs) meeting held in Gujrat on July 17 and 18.
During the meeting between Finance Ministers Prakash Sharan Mahat of Nepal and Nirmala Sitharaman of India, a discussion was held on completing the India-assisted projects in Nepal on time by solving the problems surfacing on implementation, according to Finance Minister’s secretariat.
Minister Mahat reminded Minister Sitharaman of the understanding reached on power export (10,000kw in 10 years) from Nepal to India which will help reduce trade loss between the two countries. “Both finance ministers decided to make a collaborative approach between the two countries for trade and investment facilitation,” according to Minister Mahat’s secretariat.
According to Finance Minister Mahat, his Indian counterpart had requested for quicker implementation of the integrated electronic payment as per the agreement made during Prime Minister Pushpa Kamal Dahal’s visit to India. To this, Minister Mahat responded that efforts were underway to set up mechanisms for the enforcement of the agreement.
Similarly, he informed Minister Sitharaman that there was good option for Indian investment in the IT sector in Nepal.
He expressed gratitude to India for inviting Nepal to attend the G20 meeting.
