KATHMANDU:- Nepal and India have signed a Memorandum of Understanding (MoU) to enable the advance exchange of information on exports and imports, a move aimed at strengthening trade facilitation and customs cooperation between the two neighbors.

The MoU was signed at a formal programme in New Delhi by Shyam Prasad Bhandari, Director-General of Nepal’s Department of Customs, and Vivek Chaturvedi, Chairman of India’s Central Board of Indirect Taxes and Customs (CBIC).

The agreement, in line with international best practices, allows the two major trading partners to share export data in advance to improve risk analysis, enhance customs control and reduce clearance time, thereby ensuring safer and more efficient cross-border trade.

According to the Ministry of Finance, the MoU was jointly drafted by Nepal’s Department of Customs and India’s CBIC. Following consultations with concerned stakeholders, the Nepal government approved the document and authorized the Director-General to sign it.

The MoU provides for digital exchange of export data in accordance with national laws, limits the use of shared information strictly to the agreed purposes, identifies contact officers for implementation, and adopts a phased approach beginning with selected goods.

Finance Ministry spokesperson Tanka Prasad Pandey said the agreement also includes provisions to resolve any disputes through diplomatic channels by mutual consent and allows amendments based on mutual understanding.

Speaking at the signing ceremony, Director-General Bhandari emphasized the need for swift implementation, noting that the initiative would further deepen bilateral trade ties. CBIC Chairman Chaturvedi also welcomed the agreement, reaffirming the Government of India’s commitment to its timely and effective execution.