Foreign Minister of Nepal, Narayan Prakash Saud and his Australian counterpart Penny Wong, witnessed the signing of a Trade and Investment Framework Agreement between Nepal and Australia at Perth in Australia on Friday. (Photo: @TimWattsMP)
Nepal and Australia have signed a Trade and Investment Framework Agreement (TIFA) during Foreign Minister Narayan Prakash Saud's ongoing visit to Australia today.
Foreign Minister of Nepal, and Senator of South Australia and Australian Minister for Foreign Affairs, Penny Wong, witnessed the signing ceremony held at Perth, Australia.
Kailash Raj Pokharel, Ambassador of Nepal to Australia and Tim Watts MP, Assistant Minister for Foreign Affairs, signed the framework arrangement on behalf of their respective sides in the presence of Minister Saud and his Australian counterpart Penny Wong, according to the Ministry of Foreign Affairs.
After the signing of the bilateral agreement, the foreign ministers of both the countries expressed belief that this agreement woule take the ties between Nepal and Australia will take a new height.
Assistant Minister for Foreign Affairs of Australia Watts, who signed the agreement, said that the relationship between Australia and Nepal is rooted at the people-to-people level.
“Australia and Nepal are close friends and our relationship is underpinned by deep people to people links - Nepali Australians are our fastest growing migrant community,” said Assistant Minister for Foreign Affairs, Australia, Tim Watts wrote on X, after signing the agreement.
Watts visited Nepal last year. Recalling the Nepal visit during the bilateral, he mentioned to have discussed opportunities and ways on deepening the economic relations between the Government of Nepal and the Government of Australia.
Taking to X, Tim Watts MP, Assistant Minister for Foreign Affairs, wrote, “In Perth, we’ve made that a reality. Today Foreign Minister Saud and I met again, when our two countries signed the Nepal-Australia Trade and Investment Framework Agreement.”
