Indian and Nepal amended bilateral transit treaty

India and Nepal have formalised an amendment to a bilateral treaty to facilitate traffic in transit for goods of third country origin exported from Nepal.

Highlights of bilateral treaty :

• Facilitate the re-export of goods imported to Nepal for fairs and exhibitions. 
• Facilitate re-export of third country origin capital goods from Nepal for repair and return as well as re-export of rejected goods from Nepal. 
• Facilitate Nepalese businesses as it will lead to re-export of goods imported from third countries after value addition, for which a legal provision was made in Finance Act of 2009. 
• Allow the movement of diplomatic cargo exported from Nepal and transiting through India.