Kathmandu Current Affairs - 2019

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World Hindu Economic Forum launches its Nepal Chapter in Kathmandu

World Hindu Economic Forum (WHEF) has launched its Nepal Chapter which was inaugurated by Nepal’s Minister of State for Health and Population Dr. Surendra Kumar Yadav in Nepal’s Capital of Kathmandu. The event was attended by large number of industrialists, business persons, traders, thinkers and other eminent personalities from Nepali society.

About World Hindu Economic Forum

It has been founded by Swami Vigyananand.

WHEF brings together financially successful elements within Hindu society (such as bankers, technocrats, investors, industrialists, business persons, professionals, economists, thinkers among others), so that each group can share their business knowledge, expertise and resources with their fellow brethren to trigger creation of surplus wealth and make society prosperous.

Objective of Nepal Chapter:

  • To increase economic cooperation between India and Himalayan state of Nepal.
  • To connect Nepal with a global network for its economic prosperity.

India-Nepal

Economic relation is base of longevity of any relationship this is jufied as Nepal’s two third external trade is with India and India is also the largest investor in Himalayan country.

After opening of Integrated Check Post at Birgunj, a city in Nepal, the India-Nepal trade has increased, cost of doing business has reduced and ease of doing business has improved.

India-Nepal Logistics Summit organised in Kathmandu

India-Nepal Logistics Summit was organised in Kathmandu, Nepal on 28 July 2019. It was inaugurated by Prime Minister of Nepal KP Sharma Oli. Theme for Summit was: Transforming Logistics Landscape.

Highlights of Summit

Participants: included Government representatives and trade community from India and Nepal.

Logistics: Nepal’s Prime Minister stressed upon smooth and quality logistics between India and Nepal. He emphasized that smart logistics plays a crucial role in making trade and transit arrangements easy, hassle-free and cost-effective. Since India and Nepal have significant volume of tourism, trade, investment, and cross border people-to-people movement therefore smooth and quality logistics including easy transit facilities is very essential.

Connectivity remains another topmost agenda in bilateral cooperation and many initiatives have been taken by both the neighbouring countries on crucial components of road, rail, inland waterways and air connectivity.

India also showed its full commitment to providing all necessary support to Nepal in achieving its goal of prosperity.

Importance: Assuring a conducive environment for trade and investment as well as enhanced investment and trade relationship with India is crucial not just because India is Nepal’s biggest trade and investment partner, but also an important route for Nepal for third-country trade.

Significance: It was a 1st of its type event, which brought together government representatives and trade community of both nations to discuss on some of pressing issues related to cross-border trade and logistics of both nations such as need for reducing transit time between Nepali and Indian ports, issues related to tariffs charged by logistics service providers, developing better warehouse facilities in Nepal and need for automation of customs and border clearance etc.