Kathmandu, August 27 :

Indo-Nepal Inter-governmental Committee (IGC) meeting that recently concluded has focused on exploring trade, transit and economic cooperation between the two countries, states a joint press release issued by the ministry of industry, commerce and supplies (MoICS) here today.

According to the statement, IGC meeting held in New Delhi on August 24-25 focused on trade, transit and economic cooperation to control unauthorised trade. S N Menon, Indian commerce secretary has led the Indian delegation while Bharat Bahadur Thapa, secretary of MoICS has led the Nepali delegation. After the IGC meeting, joint secretary level meeting was also held on August 22-23 that was co-chaired by Rajeev Kher, joint secretary, department of commerce, Government of India and Naindra Upadhyay, joint secretary, MoICS Nepal.

The leaders of both the delegations expressed satisfaction over the rapid growth in bilateral trade and investment ties during the past decade. They, according to the press release, noted that the bilateral Trade Treaty would be renewed in March 2007.

They also decided to explore various ways to make the treaty more effective instrument in further strengthening bilateral economic ties.

The two sides noted the important role of Indian investments in Nepal’s industrial development.