News Digest (September 3-9, 2020)



International Relations & Foreign Policy

BIMSTEC’s fifth summit to be held in January 2021: The chair of BIMSTEC Sri Lanka has proposed to hold the fifth summit in the first half of January 2021 given the COVID-19 pandemic. Ahead of the summit and ministerial meetings, the member states will discuss the proposal and other agendas for the conference.[1]

Madhav Kumar Nepal urges to resolve the dispute: Leader Madhav Kumar Nepal has urged the government to resolve the conflicts with neighbours through appropriate diplomatic channels. He reiterated the importance of panchsheel to maintain harmonious relations with other countries.[2]

FDI from India drastically reduced: In 2019-2020, the foreign investment commitment from India dropped by approximately 51%. In 2018-19, Nepal received Rs 6.67 billion, whereas in 2019-2020, Nepal only received Rs 3.24 billion from India. The Nepal-India Chamber of Commerce and Industry said that the Indian investors are reluctant because of the ineffective coordination between the Department of Industry and Nepal Rastriya Bank. The obsolete laws and policies related to foreign investment requires immediate renewal to attract investments.[3]




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