India and Nepal signed an agreement on Thursday to set up a a direct rail connectivity along the Jogbani-Biratnagar rail link to transport containerised and bulk cargo.
This is so that cargo can be moved from Kolkata and Visakhapatnam's ports to the Nepal Customs Yard cargo station situated in Morang District, near Biratnagar.
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The nations exchanged Letter of Exchanges (LoE) to modify the protocol to the Treaty of Transit between India and Nepal with regards to this.
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"This signing will facilitate the movement of rail-based freight between Jogbani (India) and Biratnagar (Nepal), including bulk cargo under an expanded definition," the commerce ministry said.
This liberalisation extends to key transit corridors - Kolkata-Jogbani, Kolkata-Nautanwa (Sunauli), and Visakhapatnam-Nautanwa (Sunauli), thereby strengthening multi-modal trade connectivity between the two countries and Nepal's trade with third countries, it added.
The LoE exchange took place in Delhi during a bilateral meeting between Commerce and Industry Minister Piyush Goyal and Nepal's Minister for Industry, Commerce and Supplies Anil Kumar Sinha.
The commerce ministry added that India remains Nepal's largest trade and investment partner, accounting for a significant share of its external trade.
"These new measures are expected to further consolidate economic and commercial linkages between the two countries and beyond," it said.
The meeting also welcomed ongoing bilateral initiatives to enhance cross-border connectivity and trade facilitation, including the development of Integrated Check Posts and other infrastructure, according to a PIB release.
"India remains Nepal's largest trade and investment partner, accounting for a significant share of its external trade," the release said.
(With PTI Inputs)
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