The Hindu Business Line : Vanaspati makers laud changes in Indo-Nepal trade treaty

THE Indian Vanaspati Producers' Association (IVPA) has `wholeheartedly applauded' the renewed Indo-Nepal Trade Treaty for the period up to March 5, 2007.

``We give full credit to the Commerce Ministry and External Affairs Ministry officials who have handled the negotiations with the Nepal Government with supreme care, tact and astutenessty, signed between the two Governments on March 2 and tabled in Parliament last week, vanaspati imports from Nepal at zero duty would henceforth be restricted to 100,000 tonnes, with imports beyond these quantities attracting the peak tariff rate of 30 per cent. The imports are to be permitted only through six designated border land customs stations at Kakarbhitta/Naxalbari, Biratnagar/Jogbani, Birganj/Raxaul, Bhairahawa/Nautanwa, Nepalganj/Nepalganj road and Mahendranagar/Banbasa.

Further, the imports are to be canalised through a nominated State Trading Enterprise, which will ensure smooth flow into all States in contrast to the earlier focus on nearby States. The treaty also spells out certain rules of origin to be adhered to by Nepalese producers.

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Vanaspati makers laud changes in Indo-Nepal trade treaty