On Friday, Nepal and Australia took a significant step forward in their economic collaboration by signing and exchanging the Trade and Investment Framework Arrangement.
The signing ceremony, held in Perth, Australia, saw the participation of Kailash Raj Pokharel, Nepali ambassador to Australia, and Tim Watts, Australian assistant minister for foreign affairs, as they formalized the agreement on behalf of their respective countries.
The event was further graced by Foreign Minister NP Saud, currently on an official visit to Australia, and his Australian counterpart Penny Wong, who witnessed the ceremony.
In addition to the signing, a bilateral meeting ensued between the two ministers, during which they engaged in discussions concerning mutual interests and cooperation, as highlighted by the foreign ministry.
Australian Assistant Minister for Foreign Affairs Tim Watts expressed enthusiasm about the strengthened ties, emphasizing the importance of the economic relationship between the two nations.
He remarked, “The signing of the agreement is just another demonstration of our strong ties. I’m looking forward to watching our economic relationship grow.”
Likewise, Minister Watts underscored the deep people-to-people connections between Australia and Nepal, noting the significant contribution of the Nepali Australian community to their society.
Foreign Minister NP Saud’s visit to Australia also includes participation in the 7th Indian Ocean Conference, where he is slated to address the theme, ‘Towards a Stable and Sustainable Indian Ocean,’ on Saturday.
The conference, jointly organized by the Australian government and India Foundation, aims to foster dialogue and cooperation among Indian Ocean Rim countries.
Following the conference, Minister Saud is scheduled to hold meetings with heads of delegations from various countries on the sidelines of the event.
Additionally, he will travel to Wellington, New Zealand, for a bilateral meeting with Minister of Foreign Affairs Winston Peters on February 14, preceded by a foreign ministry consultation meeting between senior officials of both countries.
Accompanied by his spouse and officials, Minister Saud’s visit is expected to enhance diplomatic ties and explore avenues for further collaboration between Nepal and Australia.
The delegation, which also includes Ambassador Kailash Raj Pokharel, is scheduled to return to Nepal on February 15.
