Indo-Nepal treaty awaits PMO nod
The commerce ministry has sent the final draft of the revised Indo-Nepal trade treaty to the PMO, which will take a “final call” on the agreement to expand bilateral economic ties.
By PTI |
NEW DELHI: The commerce ministry has sent the final draft of the revised Indo-Nepal trade treaty to the PMO, which will take a ���final call��� on the agreement to expand bilateral economic ties.
���The commerce ministry has done its job. The call has to be taken by the PMO in consultations with the ministry of external affairs,��� an official said.
The official said it is not yet clear whether the new treaty on trade and the agreement on cooperation to control unauthorised trade can be signed during the Nepalese PM���s visit
While the details of the draft treaty could not be obtained, it is learnt that the number of land routes for bilateral trade has been increased from 22 to 26.
Besides, a system of duty refund has been done away with, the official said.
The 1991 Indo-Nepal treaties on trade, transit, and agreement for cooperation to control unauthorised trade provide an institutional framework for India to have special economic ties with its land-locked neighbour.
���The commerce ministry has done its job. The call has to be taken by the PMO in consultations with the ministry of external affairs,��� an official said.
The official said it is not yet clear whether the new treaty on trade and the agreement on cooperation to control unauthorised trade can be signed during the Nepalese PM���s visit
While the details of the draft treaty could not be obtained, it is learnt that the number of land routes for bilateral trade has been increased from 22 to 26.
Besides, a system of duty refund has been done away with, the official said.
The 1991 Indo-Nepal treaties on trade, transit, and agreement for cooperation to control unauthorised trade provide an institutional framework for India to have special economic ties with its land-locked neighbour.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
