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Signing Of DTAA Between Nepal And India
By KTM Metro Reporter
November 29, 2011: for easing the bilateral economic cooperation between the two countries, Nepalese Finance Minister Barsha Man Pun on behalf of the Government of Nepal and his Indian counterpart Pranab Mukherjee on behalf of the Government of India signed off a Double Taxation Avoidance Agreement (DTAA) in Kathmandu on Sunday, November 27, 2011 in presence of Prime Minister Dr. Baburam Bhattarai during the special function held at the Office of the Prime Minister, Singh Durbar, Kathmandu.
The DTAA signed by the two finance ministers of Nepal and India replaces the old one signed in 1987, and is for creating an environment conducive to investment in both the countries.
Nepalese and Indian finance ministers were supposed to sign off the DTAA in New Delhi during the visit of the Nepalese prime minister to India in October 2011 but it did not happen, as some procedural processes had not completed by that time.
During the one-day visit to Nepal, Indian Finance Minister Mukherjee met with Chairman of UCPN-Maoist Prachanda, President of NC Sushil Koirala, Chairman of Madhesi Janadhikar Forum- Democracy (MJF-D) Bijaya Gacchadar and CPN-UML leader KP Sharma Oli.
During the meeting with Prime Minister Dr. Bhattarai at Singha Durbar, Indian Finance Minister Mukherjee informed the Nepalese prime minister about what his government has been doing to implement the agreements Nepal and India have reached, and also assured the prime minister of increasing the Indian assistance to Nepal; Prime Minister Dr. Bhattarai in his turn informed Indian Finance Minister Mukherjee about the latest development of peace and constitution drafting.
