India, Nepal sign new treaty

Nishikant Dwivedi

Kathmandu, Oct 27 (PTI) India and Nepal Tuesday signed a
new treaty making it easier for the Nepalese manufactured
products to enter the Indian market duty-free.

Besides, the two countries signed the agreement to
control unauthorised trade.
Under the new treaty, which replaces the 1996 agreement,
the validity of the trade pact between the two neighbouring
countries has been increased from 5 to 7 years, making the
business regime stable.
Under the bilateral arrangement, the Nepalese
manufactured products are allowed to enter India free of basic
customs duty. However, India does not expect the same
treatment from the neighbouring country.
The agreement was signed here by India's Commerce and
Industry Minister Anand Sharma and Nepal's Minister of
Commerce and Supplies Rajendra Mahto. PTI