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Agreed and Signed

Tuesday, October 25th, 2011

PM with Nepal PMNepal and India have agreed to find ways and means to further expand and consolidate the close, multi-faceted relations. Indian Government extended its full support for efforts to build consensus on the peace process and constitution drafting to pave way for Nepal’s transition to an inclusive, multiparty democracy in Nepal.

The two countries have agreed to revitalize and regularly convene all the bilateral institutional mechanisms including Joint Ministerial Commission on Water Resources and Home Secretaries.

The Nepalese side assured of an investor-friendly and enabling business environment to encourage Indian public and private sector investments in Nepal. The two Prime Ministers directed the Inter-Governmental Committee (IGC) of Commerce Secretaries to convene at the earliest.

The two sides have agreed to review the Rail Services Agreement at the earliest and explore movement of additional stream of wagons to/from Birgunj ICD in Nepal. The two sides agreed to expeditiously complete
procedural requirements for operationalisation of rail transit facility through Rohanpur-Singhabad and transit between Vishakhapatnam and Nepal.

In response to Nepal’s request for increase in the quantum of electricity export, the Indian side conveyed readiness to supply maximum electricity possible on existing transmission lines and suggested that technical
experts of the two countries should meet to explore the options available for enhancing electricity trade between India and Nepal.

The two sides reiterated that while the open border between Nepal and India has greatly facilitated exchanges among the peoples of both countries, it is equally important to manage the border effectively and
efficiently to control cross-border criminal activities.

The two countries have expressed commitment not allow their territories to be used for any activity against each other.

The two sides have expressed committments to extend all necessary support to facilitate expeditious completion of construction of roads, rail links and the Integrated Check Posts in the India-Nepal border areas.

The Nepalese side requested the Government of India to allow three additional inbound air routes from Janakpur, Bhairahawa and Nepalgunj in view of increased air traffic to and from Nepal. The Indian side proposed a meeting of the civil aviation authorities of Nepal and India to discuss and address various issues in this sector.

On the request of Nepalese government, the Indian side indicated willingness to favorably consider priority development projects in various sectors as requested by Nepal.

The Indian government has offered to increase the ITEC slots for Nepal to 200 every year. The two governments signed Bilateral Agreement on Promotion and Protection of Investments, Agreement for dollar credit line of USD 250 million between Government of Nepal and Export-Import Bank of India and MoU
regarding Indian grant assistance of 30 million rupees for the goitre control programme in Nepal.

The two countries have reached agreement on the text of the Double Taxation Avoidance Agreement (DTAA) and committed to sign the DTAA at the earliest possible on completion of the respective legal procedures.

The two sides expressed concern at the human suffering and loss of lives and property caused by floods and inundation at the border areas during the monsoon and agreed to strengthen coordination and consultation to deal with the problem.

The two sides agreed to further promote exchange of Parliamentarians. The two sides proposed to set up an Eminent Persons Group to look into the totality of India-Nepal relations and suggest measures to further expand and consolidate the close, multi-faceted relations between the two

The two sides have agreed to review, adjust and update the 1950 Treaty of Peace and Friendship and other agreements, while giving due recognition to the special features of the bilateral relationship. A High-Level Committee at the level of Foreign Secretaries will be set up for this purpose.

The Prime Minister of Nepal extended an invitation to the Prime Minister of India to pay an official visit to Nepal at an early date. The Prime Minister of India accepted it with pleasure. The dates of the visit will
be decided through diplomatic channels.

Based on Joint Press Statement issued during Prime Minister Baburam
Bhattarai’s visit to India last week.

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