Swaraj meets Nepalese counterpart; discusses trade, investment

Pushes for more cooperation in trade, investment and security

Looking at further expanding bilateral ties, External Affairs Minister Sushma Swaraj on Saturday held talks with her Nepalese counterpart Mahendra Bahadur Pandey in Kathmandu on a range of issues and resolved to push for more cooperation in areas such as trade, investment and security.

At the outset, Pandey warmly greeted Swaraj and hoped that her visit will help in further cementing ties between the two countries. In the meeting, both the leaders noted that there is lot of scope for expansion of cooperation between the two nations and agreed to work on in this direction. Foreign Secretary Sujatha Singh and a number of top officials from the Ministry of External Affairs were also present in the meeting.

The detailed discussion on specific issues will be taken up at the Joint Commission Meeting (JCM) which is taking place after a gap of 23 years. The JCM, to be co-chaired by both Swaraj and Pandey, will have five clusters - political, security and border issues; economic co-operation and infrastructure; trade and transit; power and water resources; and culture, education and media.

Soon after her arrival here yesterday, Swaraj had said Nepal stands high on the priority list of the new Indian government and the testimony to it is her visit here within two months of assuming office of External Affairs Minister.

"The meeting for which I have come, you will be surprised to know, is taking place after 23 years. It reflects that for the new government, Nepal stands high on priority list.

"I have come here with lot of hopes and expectations and I think through the visit, India-Nepal relations will be further strengthened," she said yesterday.

Swaraj's visit is also expected to prepare the ground for a two-day visit by Prime Minister Narendra Modi next month.

Modi will arrive here on August 3 on an official trip, the first bilateral visit by an Indian premier in over 17 years.

In 1997, then Prime Minister I K Gujral had visited Nepal.

Swaraj will also call on top leadership including Prime Minister Sushil Koirala and hold meetings with leaders across the political spectrum, including Maoist leader Prachanda.

Even though the meeting of JCM is taking place after a long period, India has 25 bilateral mechanisms with Nepal where both are interacting on a regular basis.

At present, the annual bilateral trade is approximately USD 4.7 billion and India accounts for 47 per cent of foreign direct investment in Nepal.