“With the objective of expanding connectivity to enhance people-to-people linkages and promote economic growth and development, the Prime Ministers of India and Nepal agreed to construct a new electrified rail line, with India’s financial support, connecting the border city of Raxaul in India to Kathmandu in Nepal. Taking cognizance of their geographies and noting the development of inland waterways in both countries, the two Prime Ministers took the landmark decision to develop the inland waterways for the movement of cargo, within the framework of trade and transit arrangements, providing additional access to sea for Nepal. The Prime Minister of Nepal noted the enormous impact the additional connectivity would have on the growth of business and economy of Nepal. They hoped that its early operationalization will enhance cross-border trade and transit of goods and movement of people bringing greater opportunities for shared growth and development. The two Prime Ministers also witnessed the ground-breaking ceremony of the Motihari-Amlekhgunj cross-border petroleum products pipeline at Motihari.These developments occurred in the backdrop of Nepal joining the Belt and Road Initiative last year.Oli is on a three-day visit to India.

Source: Economic Times April 07, 2018 12:00 UTC