The second meeting of the Nepal-India Joint Business Forum (JBF) focused on expanding bilateral trade and business ties between the two nations.
Held with the goal of strengthening economic relations, the meeting concluded on Saturday. Minister for Industry, Commerce, and Supplies Damodar Bhandari emphasized that India is Nepal’s largest trading partner and urged both countries to implement the decisions made during the JBF discussions.
He also stressed the need for resolving trade issues between the countries more efficiently.
Ministry Secretary Govinda Bahadur Karki highlighted the importance of translating the decisions made in the meeting into practical actions.
Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), pointed out the immense potential for economic collaboration between Nepal and India. He called for policy reforms and practical solutions to overcome trade and business challenges.
Dhakal also proposed addressing non-tariff barriers, facilitating the resolution of issues related to the Bureau of Indian Standards (BIS) certification for Nepali exports, improving air connectivity between Bhairahawa and Pokhara airports in Nepal and various Indian cities, and ensuring the smooth supply of explosives needed for hydropower projects.
He also urged expanding Nepal’s access to Indian ports, including Mundra (Gujarat), Dhamara (Odisha), and Jawaharlal Nehru port (Mumbai).
The JBF meeting, part of the Nepal-India Commerce Secretary-level talks, covered a range of topics including trade, investment, energy, tourism, agriculture, information technology, and infrastructure development.
An agreement was reached to promote clean energy through collaboration in hydroelectricity and renewable energy projects (such as solar and wind), boost tourism and connectivity, ease cross-border trade by strengthening transportation links (road, railway, and air), and enhance trade and investment in agriculture and medicinal plants. The agreement also addressed providing high-yielding seeds and technology, removing agricultural production quotas, and fostering collaboration in research and commercialization of medicinal herbs. Additionally, cooperation in digital technology and startups was emphasized.
The JBF meeting’s outcomes were handed over to the commerce secretaries of Nepal and India on the same day. JBF presidents Bhawani Rana and Santhil Kumar presented the agreement to India’s Commerce Secretary Sunil Barthwal and Nepal’s Commerce Secretary Karki.
The Indian Commerce Secretary expressed commitment to advancing the initiatives discussed during the meeting.
Ambassador of India to Nepal, Naveen Srivastava, noted the meeting’s significance for economic cooperation and pledged to facilitate the implementation of the raised issues.
Bhawani Rana, President of JBF Nepal, reiterated the vast potential for trade and investment between Nepal and India, stressing the need for the necessary facilitation to capitalize on this potential.
N. Sunil Kumar from the Indian side expressed optimism about future improvements in connectivity, which would make trade and business interactions even more convenient.
The next JBF meeting is scheduled to be held in New Delhi, India.
