Kathmandu, July 18
Finance Minister Dr. Prakash Sharan Mahat and his Indian
counterpart Nirmala Sitharaman have emphasized on completing the development
project being implemented with Nepal-India bilateral cooperation on time by
resolving the problems encountered during their execution.
During a bilateral sideline meeting held between the two at
the sidelines of the G20 Finance Ministers' Meeting in Gujarat in India, they
talked about the mutual cooperation and bilateral relations between the two
countries.
Finance Minister Mahat mentioned that the implementation of
the electricity export agreement concluded during the visit of the Prime
Minister of Nepal to India will help in reducing the trade deficit as it would
facilitate the export of 10,000 megawatts of hydropower in the next ten years.
There was a consensus on working together to facilitate
trade and investment between the two countries, the Ministry of Finance
informed in a statement on Tuesday.
Meanwhile, Indian FM Sitharaman requested to speed up the
work to implement the joint electronic payment mechanism according to the
agreement between the Nepal Clearing House Limited (NCHL) and International
Payments Limited of India.
FM Dr. Mahat said in response that he would work to
establish a mechanism for its speedy implemented.
During the meeting, he also requested Sitharaman to increase
investment in the information technology sector of Nepal as there is a good option
for Indian investment since business potential and sufficient human resources
are available in Nepal.
Thanking India for inviting Nepal to participate in the G20
Summit and an opportunity to raise the issues of the low-income countries in
the forum, Dr. Mahat congratulated India for its dynamic and strong leadership
of the group.
Published in The Rising Nepal daily on 19 July 2023.
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