Kathmandu : The bilateral agreement on trade and commerce between Nepal and India has been renewed for seven years from Thursday. The agreement that was into effect from 27 September 2009 in a bid to promote, facilitate and diversify trade had expired yesterday.
Secretary at Ministry of Commerce Ngaindra Prasad Upadhyay informed the National News Agency (RSS) that the treaty was renewed entirely as per Section 12 (b) of the Treaty.
The Treaty has arranged easy access of the products from both countries to their markets. It has also ensured foreign direct investment in Nepal with the arrangement of zero custom duty.
Similarly, it has helped in setting up foundation for industrial development in Nepal with the technical assistance, added Secretary Upadhyay. RSS