ISDS Case Map
Nepal
Even as Nepal prepares to abolish monarchy and declare itself the world's newest republic under a government led by Maoists, the Indian government is preparing a new wave of business diplomacy to establish cordial ties -- including an FTA -- with the new regime.
The Nepalese government still seems to be unclear about its priority on trade. Policy makers and senior government officials appear to be bugged down in the morass of confusion as to whether would it be appropriate to go for bilateralism or regionalism or multilateralism.
A proposed free-trade deal between Nepal and Sri Lanka could boost trade but analysts say there is more potential for service liberalization.
Minister of Export Development and International Trade Prof. G.L. Pieris delivering the keynote address on “Exports and Future Government Plans” at the National Chamber of Commerce of Sri Lanka said Nepal is keen on entering into an FTA with Sri Lanka.
With 11 days left for the bilateral trade pact between India and Nepal to lapse, the two neighbours started their two-day talks on Thursday to review the 11-year-old Indo-Nepal trade treaty.
India has decided to hand over a virtual blank cheque to Nepal as it prepares to start talks for extending the trade treaty between the two countries.
Nepal is initiating the process of signing bilateral labor agreements with various countries that have been importing Nepali workers, state run Radio Nepal reported Friday.
India has offered to deepen its bilateral trade relations with Nepal by mooting a comprehensive economic parternship agreement (CEPA) to include services and investment. It has also offered to negotiate a more liberal bilateral investment promotion and protection agreement (BIPPA).
After a gap of almost two years, India and Nepal are all set to resume trade talks. Commerce secretaries from both the sides will meet in New Delhi on August 24 and 25 for consultations and to review bilateral trade, investment, infrastructure and transit issues.
The ninth ministerial meet of the BIMSTEC failed to announce the date for implementing the already agreed upon free trade agreement.
