Kathmandu, Sept 3: Two international agreements were tabled at the House of Representatives meeting on Thursday. They were presented before the session for information.
In a meeting of the Lower House on Thursday, Minister for Energy, Water Resources and Irrigation, Biraj Bhakta Shrestha, tabled an agreement relating to the long-term power trade between Nepal and India.
On the occasion, the Minister expressed his confidence that the agreement would help create an atmosphere to encourage mutually beneficial arrangements for long-term electricity trade between Nepal and India. The deal includes the issues to further promote regional trans-border power trade by keeping arrangements in place to ensure maximum utilization of existing, under-construction and proposed trans-border power connectivity.
As per the agreement, both Indian and Nepali investment in renewable energy, especially across all clusters of the hydropower project would be encouraged and trans-border interconnectivity development between the two nations accelerated accordingly.
According to Minister Shrestha, the agreement was signed with the major objective of securing mutual benefits to both countries through the trade in hydropower, which is a source of clean and renewable energy for both Nepal and India. He said that the agreements specifically aim to export 10,000 megawatts of electricity from Nepal to India within the next 10 years.
Similarly, Minister for Law, Justice and Parliamentary Affairs, Sobita Gautam, presented the Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction ( BBNJ Agreement). The Agreement is expected to contribute to the effective implementation of the United Nations Convention on the Law of the Sea.
