What External Affairs Minister's Meet Would Unsheathe from Indo-Nepal Joint Commission Meet?

The Indo-Nepal Joint commission meet would boost up the economic partnership, Trade and Bilateral relationship

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Economic status of the nation seems to be lowering down due to the hike in insolvency rate over the past few months. Central government has been scheduling meets and calling up conferences to waive off the economic slowdown in the country. Beginning from the Finance Ministry to the External Affairs, various norms have been followed to overcome the insolvency.

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Recently, External Affairs minister Dr.Jaishankar's meet has been scheduled with Nepal Counterpart Pradeep Kumar Gyawali

The joint meeting between India and Nepal will look upon the overall state of bilateral relations, and various areas of cooperation such as economic partnership, trade, connectivity, power and water resources sector, culture, education. This meeting brings with itself the high hopes of bilateral improvement along with trade sector elevation.

How can the meet act as an economic enhancement?

 

  • With the past records of trade and investment between India and Nepal, Import of around 70 crores and export of around 65 crores have been escalating the bilateral relations of both nations since years. These trade duties would be strengthened and increase with the optimism in Indo-Nepal meets in joint commission.
  • Security issues are the foremost important concern to both the countries. To deal with proper efficiency and jointly with each other’s security concerns, the two countries have institutionalized Home Secretary level meetings and established Joint Working Group on Border Management (JWG) and Border District Coordination Committees (BDCCs). These committees would uphold itself along with its refined credibility through these meetings.
  • Cooperation in Water Resource Agreements  have always been the prominent areas of deal between India and Nepal. An important Power Trade Agreement was signed between the two countries in 2014 paving way for the power developers of both Nations to trade electricity across the border without restrictions. Private/public power developers from India have reached agreements with the Investment Board of Nepal to develop two mega hydropower projects – Upper Karnali and Arun III.