By IANS,
New Delhi : India has promised full support in expanding Nepal’s manufacturing sector to boost its industry, it said here Wednesday.
Commerce and Industry Minister Kamal Nath told his Nepali counterpart Rajendra Mahato here Tuesday evening that the manufacturing sector could be the harbinger of Nepal’s faster growth in trade and industry, a government statement said.
“Manufacturing industry in Nepal can be the harbinger of faster growth in trade and industry in Nepal,” Nath said during his meeting with Mahato here.
Mahato, who is Nepal’s Commerce and Supplies Minister, along with Nepal’s Prime Minister Pushpa Kamal Dahal “Prachanda”, is in India on five-day visit to boost bilateral relations, the first high level visit after the Himalayan nation’s transformation from monarchy to a democracy.
The statement said Kamal Nath promised full support to Mahato in areas of trade and industry, and also developing special economic zones (SEZs).
According to an estimate of the Associated Chambers of Commerce and Industry (Assocham), a leading industry lobby of India, Indo-Nepal trade is expected to reach around $3 billion by 2010.
“Trade issues need to be identified on both sides and deliberated at the level of chambers of commerce mutually and ensure that benefits of progress are utilised by the business communities in both the countries,” said Kamal Nath.
Mahato, on his part, sought India’s help in speeding up Nepal’s growth process by increasing public and private investments.
The Indian minister said there was a possibility for export of paper and paper products to Nepal.
As a trade facilitation measure, Kamal Nath said India’s Central Pulp and Paper Research Institute could help Nepal to develop its human resource and technical capacity in the area of pulp and paper technology.