KATHMANDU: Nepal has urged India to immediately resolve the issue of documentation at Vishakhapatnam port which Nepal has started using to facilitate its foreign trade with third countries.

The hassles in documentation process have delayed the trade and complicated the process of goods release. Moreover, it has resulted in unnecessary financial burden.

Officials and Indian entrepreneurs said that the trade transaction has been made complicated for lack of facilitating relations and common understanding among the Ministry of Foreign Affairs, Nepal Rastra Bank and Indian Port authorities.

The Rastra Bank had already granted permission for the issuance of Letter of Credit but it is not technology-friendly and effective. In absence of Nepali Embassy in Visakhapatnam, the process of documentation is always a big problem which has direct bearing on the release of goods within a definite time.

These issues were raised by participants at an interaction programme organised by Ministry of Commerce and Intermodel Transport Development Board with Nepali business community today. Also present on the occasion were the officials of Vishakhapatnam and Container Corporation of India.

Secretary of Commerce Ministry Chandra Kumar Ghimire urged the business community to use Vishakhapatnam port which will be easier and proper from time and transportation perspectives.

NRB Deputy Governor Chintamani Shivakoti pledged to facilitate the trade and address the problem surfaced in payment process.

Nepal Chamber of Commerce Chairperson Rajesh Kaji Shrestha said it was a positive development for the Nepali business community to get opportunity to use Vishakhapatnam port after rigorous discussion while noting that Nepali side should be allowed to set up contact office there.

FNCCI Senior Vice-Chairperson Shekhar Golchha drew the attention of Indian officials towards not imposing any fee in Vishakhapatnam port as in Kolkata port.

Also speaking on the occasion, Vishakhapatnam Port Authority MT Krishna Babu said that they can complete the process and release the goods of Nepali business people in a rapid and easy manner from Vishakhapatnam than other ports and also urged to establish contact office and ease the documentation process.

Likewise, Container Corporation of India General Manager Yelamendra Yadav said that it would save time and extra costs while importing goods from Vishakhapatnam so that Nepali business community can reap benefits. "Nepal Rastra Bank, Nepali Embassy in India and Port Authority should have proper collaboration in facilitating the documentation process," he suggested.