--By TC Correspondent 

 

A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj. 

 

Ambassador Rae underlined the need for infrastructure development to attract more foreign investment to Nepal. 

 

“Nepal needs to implement investment friendly policies,” he suggested. He informed that Indian government has planned to expand railway facility in five bordering districts in Nepal. The railway link is expected to facilitate trade between the two countries, he added. The process of establishing Integrated Check Posts (ICPs) at three major customs points along the Nepal-India border has also started, he said.

 

He urged Nepali private sector and the government to take Indian investors into confidence as there is high potential of Indian investment in Nepal. He emphasized on the bilateral cooperation for mutual benefit. 

 

Nepal should increase the volume of export to India to reduce the existing trade deficit with India, he suggested. “Nepal can export hydroelectricity to India which will help reduce the trade deficit.”

 

The Birgunj Chamber of Commerce and Industry in association with Minds Nepal has organized the expo that is aimed at increasing international trade particularly with India and the SAARC countries. The 10-day exhibition has been displaying a wide range of products from Nepal, India and the SAARC region, the organizer said. 

 

Nepal-India Border Summit 

Nepal-India border summit concluded on Saturday (February 15) issuing a 15-point “Birgunj Declaration 2070”. Birgunj Chamber of Commerce and Industry had organized the summit with participation of parliamentarians from bordering districts. In the programme, six parliamentarians from Bara and Parsa districts of and two parliamentarians from India participated.