NEW DELHI, Feb 22 (KUNA) -- India and Nepal Thursday began their two-day talks at Nepalese capital Kathmandu to review the 11-year-old bilateral Trade Treaty, with 11 days left for the trade pact between India and Nepal to lapse.
Indo-Asian News Service quoting Nepalese officials participating in the meeting as saying, "Nepal is keen to attract Indian investment and seeks its assistance in building infrastructure, especially in the hydro electric sector.
"Nepal's private sector has also stated focusing on an automatic renewal of the trade treaty till a comprehensive economic package is finalised," the officials said.
The Indo-Nepal trade treaty was signed in 1996 and is renewed every five years. The term of the present treaty will expire on March 5 this year. India is Nepal's largest trade partner.
Nepalese officials told the news agency that -- as both countries were members of the World Trade Organisation and the Bay of Bengal Initiative for Multi-Sectoral, Technical and Economic Cooperation which includes Bangladesh, Bhutan Myanmar, Sri Lanka and Thailand -- bilateral trade ties must be upgraded.
Meanwhile, on February 26, trade ministers of the seven South Asian Association for Regional Cooperation countries will meeting in Kathmandu to discuss the South Asian Free Trade Area Agreement.
