KATHMANDU: A Memorandum of Understanding (MoU) between the Ministry of Foreign Affairs of the Government of Nepal and the Department of Foreign Affairs and Trade of Australia on establishment of bilateral consultation mechanism has been signed in Australian capital, Canberra, on Friday.

The MoU is aimed at exchanging views on mutual interests and common international issues, it is learnt.

According to the Embassy of Nepal in Australia, Foreign Secretary Shanker Das Bairagi and acting foreign secretary of Australia Gary Quinlan signed the MOU amid a function today.

On the occasion, secretary Bairagi briefed the Australian side about current socio-political and economic condition of Nepal adding the local civic polls had successfully elected the women, ethnic and other marginal groups. He further urged Australian entrepreneurs to invest in Nepal as investment friendly environment was being enabled in the country.

Likewise, acting foreign secretary Quinlan shared that Australia was always positive to increase the volume of its trade and investment in Nepal. He also raised query regarding the post quake projects in Nepal.

The meeting of the mechanism will take place in every two years.