PM Modi and Nepal's PM KP Sharma Oli Strengthen Bilateral Relations in New York Meeting

In a significant meeting in New York, Prime Minister Narendra Modi and Nepal's Prime Minister KP Sharma Oli discussed the strong bilateral ties between India and Nepal. The meeting underscored mutual cooperation and investment between the two countries, reaffirming a commitment to deepen their collaborative relationship.

Prime Minister Narendra Modi and Nepal's Prime Minister KP Sharma Oli convened a pivotal bilateral meeting at the Lotte New York Palace Hotel in New York on Sunday. 'The meeting was very good,' Oli remarked following their discussion, according to ANI.

This marked the first encounter between the leaders since Oli assumed office as Nepal's PM for the third time in July, succeeding Pushpa Kamal Dahal 'Prachanda'. Modi had extended congratulations to Oli in July, expressing optimism about fortifying the countries' ties and enhancing beneficial cooperation.

Nepal's strategic position neighboring five Indian states highlights the age-old cultural connections and people-to-people links binding both nations. As part of India's 'Neighbourhood First' Policy, ongoing high-level exchanges underscore these deep-rooted friendships. Since 2014, Modi visited Nepal five times, while Nepalese PMs have made ten visits to India. Modi last visited Nepal in May 2022.

Indian businesses are prominent investors in Nepal, contributing significantly to its FDI. Bilateral trade is robust, with India constituting 64.1% of Nepal's total trade in the 2022-23 fiscal year. Nepal's exports to India include edible oil, coffee, and tea, while imports feature petroleum products and machinery.

During his three-day U.S. visit, Modi also attended the Quad Summit and engaged in bilateral talks with leaders of the U.S., Australia, and Japan. This group collaborates on ensuring peace and prosperity in the Indo-Pacific region. Modi and U.S. President Joe Biden discussed deepening the India-U.S. strategic partnership.

Modi's interactions with American business leaders emphasized the commercial vitality between the world's largest democracies. He is set to address the UN General Assembly's Summit of the Future in New York.

(With inputs from agencies.)