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Nepal, India finance ministers emphasize implementation of agreements

Finance Minister Prakash Sharan Mahat on Tuesday held a meeting with his Indian counterpart Nirmala Sitharaman on the sidelines of the 3rd Finance Ministers and Central Bank governors meeting of the G20 nations being held in Gandhinagar in Gujarat.

Matters of mutual cooperation and bilateral relations were discussed during the meeting, according to a statement.

During the meeting, both Finance Ministers emphasized resolving the problems encountered in the implementation of development projects in Nepal to complete them on time.

Finance Minister Mahat said that the implementation of the agreement to export 10,000 MW of electricity to India in the next ten years, signed during the recent visit of Nepal’s Prime Minister to India, will help in reducing the trade deficit.

Similarly, Sitharaman requested to speed up the work to implement the agreement on the joint electronic payment system between India’s International Payment Limited and Nepal’s NCHL.

Minister Mahat, during the meeting, also requested to increase in Indian investment in the information technology sector of Nepal.

“The Finance Ministers of both the countries emphasized the need to expand relations in the economic sector and areas of mutual interest in the coming days,” reads the statement.

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