The second meeting of the Nepal-India Joint Business Forum (JBF) concluded on Saturday, focusing on the expansion of bilateral trade and business ties. The meeting sought to strengthen economic and business relations between the two nations.
Minister for Industry, Commerce, and Supplies, Damodar Bhandari, underscored the importance of India as Nepal’s largest trading partner. He emphasized the need to implement the decisions made during the JBF meeting and called for resolving challenges in the import and export processes to facilitate smoother trade. Secretary Govinda Bahadur Karki also stressed the importance of practically implementing the meeting’s outcomes.
The President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, highlighted the significant economic potential between Nepal and India. He advocated for policy reforms and practical measures to address challenges in trade and business. Dhakal pointed out the need to remove non-tariff barriers, simplify the certification processes under the Bureau of Indian Standards (BIS) for Nepali exports, and establish air connectivity between Bhairahawa and Pokhara airports with Indian cities. He also called for ensuring the smooth supply of explosives required for hydropower project construction and proposed expanding Nepal’s access to Indian ports such as Mundra (Gujarat), Dhamara (Odisha), and Jawaharlal Nehru Port (Mumbai).
The JBF meeting, part of the Nepal-India Commerce Secretary-level dialogue, covered a wide range of topics, including trade, investment, energy, tourism, agriculture, information technology, and infrastructure development. Both sides reached an agreement on various areas of collaboration. These included promoting clean energy through joint projects in hydroelectricity, solar, and wind energy; enhancing tourism and connectivity; and easing trans-border trade by strengthening road, railway, and air connectivity. The meeting also agreed to boost cross-border investment in agriculture and medicinal plants, provide high-yielding seeds, and remove agricultural quotas. Additionally, the meeting focused on research and commercialization of medicinal herbs, as well as fostering cooperation in digital technology and startups.
The agreed agenda was handed over to the commerce secretaries of both countries on Saturday. JBF President Bhawani Rana and Indian counterpart N Sunil Kumar presented the agreement to Nepal's Commerce Secretary Govinda Bahadur Karki and India's Commerce Secretary Sunil Barthwal. Indian Commerce Secretary Barthwal assured efforts to implement the meeting’s agenda. Indian Ambassador to Nepal, Naveen Srivastava, emphasized the importance of the meeting in addressing economic issues and pledged to facilitate the agreed topics.
JBF Nepal President Bhawani Rana reiterated the extensive potential for investment and trade between Nepal and India, emphasizing the need for proper facilitation to maximize benefits. Similarly, Indian representative N Sunil Kumar expressed optimism, noting that improvements in road, railway, and air connectivity would enhance bilateral trade and business.
The next JBF meeting is scheduled to be held in New Delhi, India.
