India-Nepal Logistics Summit 2019 was held in Kathmandu, Nepal on 28 July 2019. The summit was inaugurated by Nepal Prime minister KP.Sharma Oli.
Daily Current Affairs Quiz 2019
Theme of India-Nepal Logistics Summit: Transforming Logistics Landscape.
Participants: included Government representatives and trade community from India and Nepal.
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.
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.
Significance of the India-Nepal Logistics Summit: 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.
Importance of the India-Nepal Logistics Summit: 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.
Relationship between India and Nepal :
India and Nepal initiated their relationship with the 1950 Indo-Nepal Treaty of Peace and Friendship and accompanying secret letters that defined security relations between the two countries, and an agreement governing both bilateral trade and trade transiting Indian territory.
