Nepalese mediapersons get insight into trading relations | punjab | Hindustan Times
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Nepalese mediapersons get insight into trading relations

punjab Updated: Dec 14, 2013 18:52 IST
HT Correspondent
HT Correspondent
Hindustan Times

A delegation comprising 15 senior editors and journalists from print and electronic media from Nepal visited Amritsar to get an insight into the trading relations between India and Nepal.

The delegation was led by Bala Krishnan, senior official, ministry of external affairs, India. The print editors and journalists are from leading newspapers like The Kathmandu Post, Aarthik Abhiyan National Daily, Naya Prakashan, The Rising Nepal, and others.

As a part of their mission, they visited leading business houses in Punjab; while during their stay in Amritsar, they visited Khanna Paper Mills, a state-of-the-art manufacturing unit, exporting its products to Nepal since long.

"The journalists were enthusiastic while visiting an Indian manufacturing unit, especially the one which has business with Nepal,"said Suneet Kochhar, director of Khanna Paper Mill.

"Despite differences in size and population, India and Nepal are held together closely by their culture and traditions,"he added.

"A history of close cooperation and friendship between the people of the two nations has been greatly facilitated by the long and open border and close economic ties between the two,"said Kochhar, adding that in recent years, the two countries have successfully concluded very important treaties.

He said Nepal had the largest volume of trade with India, and India's investments in Nepal were 48% as compared to any other nation. "Nepal also has the largest trade deficit with India, and this figure is increasing with every passing year. Of late, it is widely felt that Nepal must concentrate heavily on import substitution and in setting up and furtherance of export-oriented industries,"he maintained.

Kochhar further said to achieve this, Nepal must attract direct foreign investment with more and more value additions so that it might industrialise faster and also increase trade with India so as to reduce the trade deficits with the trading partners.

India wanted to participate in growth story of Nepal, he said, adding that the Nepalese mediapersons took active interest in understanding the manufacturing sector of India.

"In recent years, the two countries have successfully concluded very important treaties such as The Nepal-India Trade Treaty 1996 and its subsequent renewals in 2002 and 2009, Nepal-India Transit Treaty, Agreement to Control Unauthorized Trade between Nepal and India, Railway Service Agreement, Bilateral Agreement for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income, Mahakali Treaty, Power Trade Agreement to name a few.