PM tells US envoy PTA‚ PDA with India soon

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    PDA+PTAKATHMANDU: Prime Minister Sushil Koirala has expressed confidence that both the Power Trade Agreement and Project Development Agreement will be signed with India soon. 

    While receiving US Ambassador Peter W Bodde at his residence today, PM Koirala said Indian Prime Minister Narendra Modi’s recent visit to Nepal was highly successful.

    According to PM Koirala’s press coordinator Prakash Adhikari, Prime Minister Koirala said, “By sharing New Delhi’s willingness to strengthen Nepal-India relations based on equality and mutual benefits, Prime Minister Modi has circulated new hope and enthusiasm in Nepal.”

    During Modi’s visit to Nepal on August 3-4, Nepal and India agreed to have the PTA and the PDA of a 900MW Upper Karnali Hydroelectricity Project within 45 days. 

    Consultations and correspondences have continued between two countries to meet the deadline.

    US Ambassador Bodde said that the to-be-finalised Nepal-India PTA and PDA would create enormous opportunity in Nepal and also would also help build confidence of foreign investors to invest in Nepal.

    “If such agreement between Nepal and India is signed, many more companies would come to Nepal to invest in the hydropower sector,” Adhikari quoted Bodde as telling PM Koirala.

    The US envoy stated that once a project comes into operation, many more will follow suit. 

    PM Koirala stated his priority was promulgation of the new constitution within the time frame and economic development of the country. He also praised the United States’ continued support to Nepal’s endeavours towards peace . 

    Source : The Himalayan Times

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    The ambassador of the United States of America H.E. Peter Bodde called on Prime Minister Sushil Koirala at the latter’s residence in Baluatar, Kathmandu, August 22, 2014.

    In the meeting discussion between the two mainly focused on the proposed PTA (Power Trade Agreement) and Upper Karnali PDA (Project Development Agreement) with India, reports quote PM Koirala’s press advisor Prakash Adhikari as saying.

    Ambassador Bodde hoped that both the agreements if signed between the two countries would not only create enormous opportunities in Nepal but it will also build more confidence among other foreign investors to invest in Nepal.

    While congratulating Koirala for the successful completion of India’s PM Narendra Modi’s two days long state visit to Nepal Ambassador Bodde said that his country too was willing to continue support Nepal in all its development endeavors.

    Koirala said in response Koirala expressed confidence that the two countries would soon sign both the agreements.

    To recall, in a meeting with Nepal’s Finance Minister Ram Saran Mahat, July 31, 2014, Deputy Assistant USTR (US Trade Representative) for South and Central Asia Mara Burr had expressed concerns whether the proposed Nepal-India PTA would restrict investors from foreign countries to invest in Nepal’s hydropower resources.

    In response, media reports had it that, the Finance Minister had said there was absolutely no truth that only Indian companies are allowed to invest in Nepal’s Hydropower rather it was intended to open investment from all countries across the globe.

    Has the US stance changed? But the envoy says, “foreign investors will be also interested to invest in Nepal”.Perhaps here lay the meaning.