India, Nepal to sign new trade pact, widen economic ties

22 Aug 2009

India and Nepal have agreed on a broader bilateral trade agreement, which would widen bilateral engagement and control unauthorised trade originating from a third country. 

The agreement on the new treaty was finalised at a meeting between India's commerce secretary Rahul Khullar and Nepal's secretary of commerce and supplies Purushottam Ojha in New Delhi.

External affairs minister S M Krishna and Nepal's minister of commerce and supplies Rajendra Mahto were also present on the occasion.

The agreements towards this were signed at the head of a five-day visit of Nepalese prime minister Madhav Kumar Nepal.

The new agreement will replace the existing trade treaty signed in 1991 and extended from time to time.

A formal signing of the treaty is likely tomorrow, official sources said.