KATHMANDU: A Memorandum of Understanding has been signed between the Nepal Chamber of Commerce (NCC) and the Federation of Israeli Chambers of Commerce.

On the occasion of the 60th anniversary of the establishment of diplomatic relations between Nepal and Israel, a memorandum of understanding was signed on Monday with the aim of establishing trade relations between the two countries.

The MoU was signed through a virtual meeting in presence of Nepali Ambassador to Israel Dr. Anjan Shakya and Israeli Ambassador to Nepal Hanan Goder Goldberg and office-bearers of both organizations.

The agreement was signed by NCC Senior Vice President Rajendra Malla and Vice President of Israeli Chamber of Commerce Amir Shani.

NCC President Rajesh Kazi Shrestha said that it is believed that the understanding would strengthen economic relations between Nepal and Israel.

The MoU includes initiatives to attract investment from Israel to Nepal, expand Nepal’s trade, promote bilateral and multilateral trade and common interests related to investment, economic cooperation, and exchange of business visits.

So far, NCC has signed MoUs with 70 chambers of commerce in other countries.