KATHMANDU: Nepal has endorsed a pact that will enable it connect the railway lines it is planning to develop with Asian and European networks to facilitate the uninterrupted movement of people and goods.
The Republica daily said Wednesday a cabinet meeting held last week approved the crucial Inter-governmental Agreement on Trans-Asia Railway Network.
"Approval of the agreement is a demonstration of the government's commitment to enter into the Trans-Asia Railway Network. This will greatly facilitate movement of people and goods via Nepal to other Asian and European countries," railway department director general Ram Kumar Lamsal told Republica.
"We will immediately send the ratification paper to UN once the parliament ratifies it."
If ratified, the agreement will not only pave the way for increasing trade with partner countries in the region, but also facilitate the development of internal network of railway, reported Xinhua.
The agreement was signed in Busan, South Korea under the UN Economic and Social Commission Asia and the Pacific. Along with Nepal, Armenia, Azerbaijan, Cambodia, China, India, Indonesia, Iran, Kazakhstan, Laos, Mongolia, South Korea, Russia, Sri Lanka, Tajikistan, Thailand, Turkey, Uzbekistan and Vietnam are signatories to the agreement.
So far, China, India, Thailand, Cambodia, Mongolia, Tajikistan, Russia and South Korea have ratified the agreement.