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India, Nepal ink 4 key pacts to boost trade ties and improve connectivity.
Jan 08, 2024

India and Nepal on Thursday signed four agreements, including on long-term power trade and the launch of a satellite, as external affairs minister S Jaishankar and his Nepalese counterpart Narayan Prakash Saud explored ways to bolster cooperation in areas ranging from connectivity to trade.
 
Jaishankar, on his first foreign visit of the new year, and Saud co-chaired a meeting of the India-Nepal joint commission that reviewed the overall bilateral relationship and trade and economic ties. The meeting also discussed land, rail and air connectivity projects and cooperation in defence, security, agriculture, energy and water resources, Jaishankar said in a post on X.
 
The two sides signed four agreements, including one between the two governments on long-term power trade.
 
During Nepal Prime Minister Pushpa Kamal Dahal’s visit to New Delhi in June 2023, the two sides had agreed that India will ramp up the purchase of hydropower from Nepal to 10,000 MW within the next 10 years.
 
On Thursday, Jaishankar also met Nepal Prime Minister Dahal and conveyed the 'warm wishes' of Prime Minister Narendra Modi.
 
'Recalled his successful visit to India in June 2023 which has imparted a new momentum to our ties. Discussed the follow-up, including through the Joint Commission Meeting today. India-Nepal friendship is indeed unique and our partnership is moving from strength to strength,' Jaishankar posted on X.
 
A memorandum of understanding (MoU) between India’s NTPC Limited and the Nepal Electricity Authority will focus cooperation in the development of renewable energy. Another agreement between New Space India Limited (NSIL) and the Nepal Academy of Science and Technology (NAST) will facilitate the launch of the Munal satellite on India’s Polar Satellite Launch Vehicle (PSLV). The fourth agreement between the two governments covers Indian grants for implementing high impact community development projects.
 
The two ministers also virtually inaugurated three 132-kV cross-border transmission lines, including the second circuits of the Raxaul-Parwanipur line and the Kataiya-Kusaha line, and the New Nautanwa-Mainhiya line.
 
They also witnessed the hand-over of the fifth tranche of Indian assistance for people affected by an earthquake in Jajarkot area of Nepal in November 2023.
 
Jaishankar characterised the meeting of the joint commission as 'comprehensive and productive' and said the two sides also discussed disaster management, tourism, civil aviation, people-to-people and cultural exchanges, and the development partnership.
 
He also met Nepal President Ramchandra Paudel, and former prime ministers Madhav Nepal, KP Sharma Oli and Sher Bahadur Deuba.
 
Jaishankar is visiting Nepal at the invitation of Saud to co-chair the seventh meeting of the joint commission, which was established in 1987 and acts as a platform for both foreign ministers to review the bilateral partnership.
    
hindustantimes.com

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