KATHMANDU, Feb 9: A trade and investment agreement has been signed between Nepal and Australia. The agreement was signed during Foreign Minister NP Saud's visit to Australia.

Nepal's Ambassador to Australia, Kailash Raj Pokharel, and Australia's Assistant Foreign Minister, Tim Watts, have signed the agreement. According to the Ministry of Foreign Affairs (MoFA), the agreement was signed in the presence of Foreign Minister Saud and his Australian counterpart Penny Wong.

After the signing ceremony, Foreign ministers of both countries expressed confidence that the agreement would be important to further enhance the friendly relations between Nepal and Australia.

Australian Assistant Foreign Minister Watts said that the relationship between Australia and Nepal has reached the people's level. “Australia and Nepal are close allies. Our relationship is intertwined at the people's level. The community of Australians of Nepali origin in our country is growing rapidly," Watts wrote on Twitter after signing the agreement.

Watts visited Nepal last year. He recalled that during the visit, he talked with the Nepali government and the leaders of various sectors about opportunities and ways to deepen mutual relations. During his meeting with Foreign Minister Saud at that time, Watts discussed the issue of deepening the economic relations between the two countries.

He expressed his happiness that the two countries had the opportunity to sign the economic and investment framework. "After that discussion, officials of both countries discussed many times for a formal agreement to strengthen the economic relations between the two countries," he said, adding, "This time in Perth, we have made it a reality. This agreement has shown the strong relationship between us.”

 
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