New Delhi [India] November 13 : India and Nepal signed a deal to boost the rail trade connectivity after a bilateral meeting held between Union Commerce and Industry Minister Piyush Goyal and his Nepal counterpart Anil Kumar Sinha on Thursday.
According to a press release by the Union Ministry of Commerce & Industry, both countries exchanged a Letter of Exchange (LoE) amending the Protocol to the Treaty of Transit between India and Nepal.
The ministry added that this signing will facilitate the movement of rail-based freight between Jogbani (India) and Biratnagar (Nepal), including bulk cargo under an expanded definition.
This liberalisation extends to key transit corridors- Kolkata-Jogbani, Kolkata-Nautanwa (Sunauli), and Visakhapatnam-Nautanwa (Sunauli), thereby strengthening multimodal trade connectivity between the two countries and Nepal's trade with third countries.
The aforementioned Letter of Exchange (LoE) enables direct rail connectivity along the Jogbani-Biratnagar rail link for both containerised and bulk cargo, facilitating transport from the ports of Kolkata and Visakhapatnam to the Nepal Customs Yard cargo station located in Morang District, near Biratnagar in Nepal.
This rail link, constructed with grant assistance from the Government of India, was jointly inaugurated by the Prime Ministers of India and Nepal on 1 June 2023.
The meeting also welcomed ongoing bilateral initiatives to enhance cross-border connectivity and trade facilitation, including the development of Integrated Check Posts and other infrastructure.
India remains Nepal's largest trade and investment partner, accounting for a significant share of its external trade. These new measures are expected to further consolidate economic and commercial linkages between the two countries and beyond, the ministry added.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor