NEW DELHI, March 21. /TASS/. Russia and Nepal are working on easing and accelerating of financial transactions for expansion of trade between the two countries, the Russian embassy in Kathmandu reported.

The issue was discussed at the meeting between Russia’s Ambassador to Nepal Alexey Novikov and Finance Minister of Nepal Barshaman Pun, the diplomatic mission said. "[The meeting] mainly focused on the possibility of establishing direct correspondent accounts between financial institutions of both countries. This step suggests easing and accelerating of financial transactions, which will drive the development of trade and investment between Russia and Nepal," the embassy said on its Telegram channel.

The sides also discussed possible supplies to Nepal of Russian chemical fertilizers, sunflower oil, wheat and other agriculture products.

The Nepalese finance ministry reported earlier that the country’s authorities had suggested Russia invest in the country’s hydropower industry and the production of chemical fertilizers. The issue may be discussed at the Nepalese investment summit in April.