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The trade agreement between India and Nepal has been renewed for another five years.”The Indo-Nepal Trade Treaty, which was to expire Monday, has been renewed as it is,” said Nepalese Commerce Secretary Bharat Bahadur Thapa in Kathmandu. The decision to extend the pact was taken at a high-level meeting of commerce ministry officials of the two countries on February 23. All concerned bodies have been issued renewal notifications, Thapa said.  With the renewal, Nepal’s manufactured goods, barring three items in the negative list and five items with quantitative restrictions, will continue to enjoy unlimited duty-free market access in India without Nepal requiring to reciprocate with the facility, he said.

Under the treaty, its agricultural exports will also enjoy duty- free market access in India, subject to the provision on reciprocity, which means Indian farm products will also continue to enjoy duty- free market access in Nepal.

 With this, Nepali manufactured goods, barring three items in the negative list and five items with quantitative restrictions, would continue to enjoy unlimited duty-free market access in India without Nepal requiring to reciprocate with the facility, he said.
Under the treaty, the agricultural exports would also enjoy duty-free market access in India, but with a provision of reciprocity, which means Indian farm products would also continue to enjoy duty free market access in Nepal.

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