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The India-Nepal trade agreement signed in September 2019 has been making headlines for several reasons. The agreement came after Nepalese Prime Minister K.P. Sharma Oli`s four-day state visit to India in April 2018, where they agreed on the need to review the 2009 trade treaty and make amendments to address Nepal`s concerns.

The agreement aims to deepen economic ties between the two countries and facilitate seamless trade across the border. It has addressed several issues that Nepal was facing under the previous treaty, such as Non-Tariff Barriers (NTBs) and transit-related hurdles.

One of the significant changes in the new agreement is the provision that allows Nepal to export its products to India through any route it deems suitable. It has removed the restriction that required Nepal to use only the sea route through the Indian port of Kolkata for third-country trade. This provision will give Nepal better transit access, reduce the cost of transportation, and help boost the country`s exports.

The agreement has also addressed the Non-Tariff Barriers (NTBs) faced by Nepalese traders, which have been a long-standing issue. It has laid down clear provisions for resolving NTBs and created a mechanism for regular consultations between both countries to address any issues that may arise.

Another significant provision of the trade agreement is the establishment of a joint secretary-level committee to review and update the trade treaty regularly. This committee will ensure that the agreement remains relevant in the changing economic scenario of the region and help address any issues that may arise.

The agreement is expected to bring in several benefits to both countries. For India, it will provide better access to the Nepalese market, which is growing and presents excellent opportunities for Indian businesses. For Nepal, it will help reduce its trade deficit with India and boost its economy.

In conclusion, the India-Nepal trade agreement 2019 is a significant development in the economic ties between the two countries. It has addressed several long-standing issues and created a mechanism for regular consultations between both countries to ensure the smooth flow of trade. It is expected to bring in several benefits to both countries and deepen their economic ties.