” Nepal, Russia need to strengthen their bilateral trade”

Aarthik News

April 23, 2024, 6:13 p.m.

KATHMANDU, APRIL 23: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has said that it is important for Nepal and Russia to strengthen bilateral trade and investment cooperation.

Dhakal mentioned this during his meeting with the visiting delegation of the Chamber of Commerce and Industries of the Russian Federation on Tuesday at the secretariat of the FNCCI. The delegation of the Chamber of Commerce and Industries of Russian Federation was led by its President Sergei Katyrin.

During the meeting, he shared that it has been 13 years since the FNCCI and the Chamber of Commerce and Industries of the Russian Federation established formal relations after signing the Agreement on Cooperation in Moscow on July 25, 2011.

Dhakal told the Russian delegation that Nepal offers tremendous investment potential as most of the sectors are still untapped. ” The government of Nepal has amended 12 laws and regulations to create a better investment climate in Nepal. The government has also already prepared the framework of the Bilateral Investment Agreement.”

Dhakal even urged the Russian businesses to cash in on this valuable opportunity, to invest in Nepal in the attractive areas for mutual benefit. He also said the potential sectors for investment in Nepal are tourism and tourism infrastructure, agro-processing, hydropower projects and infrastructure, ICT, and manufacturing, to name just a few.

Meanwhile, Sergei Katyrin, President of the Chamber of Commerce and Industries of the Russian Federation, who is accorded the position of a minister in the order of precedence, said that Russian investors are keen to invest in Nepal. He stated that he would take the initiative to inform more Russian business people about the investment opportunities in Nepal. He also said that Russia is a huge market and he would assist Nepali businesses to export their products to Russia.

During the programme, presentations were also made by the Chamber of Commerce and Industries of Saint-Petersburg and the Chamber of Commerce and Industries of Lipetsk region. Also, Gokarna Awasthi, Director General of the Federation of Nepalese Chambers of Commerce and Industry, informed the Russian delegation about the initiatives that the Federation of Nepalese Chambers of Commerce and Industry has taken to improve the business climate of Nepal.

Meanwhile, Dhakal also thanked the Chamber of Commerce and Industries of the Russian Federation and Russian investors for their participation in the forthcoming Nepal Investment Summit to be held on April 28 and 29.