The country’s envoy says the mechanism should be similar to the one between Russia and India
Moscow and Kathmandu could create a mechanism for mutual settlements in the national currencies, Nepal’s ambassador to Russia, Milan Raj Tuladhar, has told RIA Novosti.
“It would be a barter trade based on our own currencies, without involving others. It should be a banking cooperation between the central banks of Nepal and Russia,” Tuladhar said. He believes it is possible to create a mechanism similar to the one between Moscow and New Delhi that uses the rupee and ruble in trade.
Tuladhar said that Nepal is interested in buying Russian fertilizers and technical equipment, while in exchange it could boost deliveries of tea and leather products to Russia.
“Right now, the volume of trade between Nepal and Russia is small. But if there are direct flights, more exchanges between Russia and Nepal, definitely more prospects will open up. For example, we…