CURRENT AFFAIRS

Detailed explanation-1: -The bilateral framework for trade is anchored on the India-Nepal Treaty of Trade and Agreement of Co-operation to Control Unauthorized Trade - 2009. The revised Trade Treaty, valid for seven years, was signed on October 27, 2009. Both Treaties were automatically renewed for a further period of 7 years in October 2016.

Detailed explanation-2: -According to the agreement, Nepal will import 150,000-210,000 metric tonnes of urea and DAP chemical fertilisers every year, according to Nepal’s Agriculture Ministry spokesperson Prakash Kumar Sanjel. Nepal will import 935,000 metric tonnes of chemical fertiliser in five years in total.

Detailed explanation-3: -The India-Nepal Treaty of Peace and Friendship of 1950 forms the bedrock of the special relations that exist between India and Nepal. Nepalese citizens avail facilities and opportunities on par with Indian citizens in accordance with the provisions of the Treaty.

Detailed explanation-4: -Treaty of Trade: The bilateral trade between India and Nepal is regulated by the Treaty of Trade. The current Treaty has been in force for a period of Seven years with effect from 27.10. 2009. Both sides have signed the amended Treaty of Trade which comes into force on 27.10.