Nepal and Australia ink trade and investment agreement

Kathmandu: Nepal and Australia have officially signed a trade and investment agreement during the visit of Nepal’s Foreign Minister NP Saud to Australia. The agreement, signed by Nepal’s Ambassador to Australia Kailash Raj Pokharel and Australia’s Assistant Foreign Minister Tim Watts, was witnessed by the respective foreign ministers, NP Saud and Penny Wong.

Both foreign ministers expressed optimism about the signed agreement, emphasizing its significance in further strengthening the friendly ties between Nepal and Australia. Australian Assistant Foreign Minister Watts took to Twitter, stating, “Australia and Nepal are close allies. Our relationship is intertwined at the people’s level. The community of Australians of Nepali origin in our country is growing rapidly.”

Watts, who visited Nepal last year, recalled discussions with the Nepali government and leaders across various sectors about opportunities to deepen mutual relations. During his meeting with Foreign Minister Saud at that time, discussions focused on enhancing economic ties between the two nations.

Expressing satisfaction about turning the discussions into reality, Watts noted the importance of the signed economic and investment framework in showcasing the robust relationship between Australia and Nepal. The agreement marks a significant step forward in formalizing and strengthening economic relations between the two countries.