KATHMANDU: The Nepal-China Business Summit, held in Beijing during Prime Minister KP Sharma Oli’s official visit to China, highlighted commitments from both governments and private sectors to enhance investment and trade collaboration.
The event was jointly organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the China Council for the Promotion of International Trade (CCPIT), and the Nepali Embassy in China.
Prime Minister Oli, addressing the summit as the chief guest, emphasized the improving investment climate in Nepal and invited Chinese investors to explore opportunities in hydropower, tourism, agriculture, and manufacturing. He highlighted the need to address the trade deficit between Nepal and China and facilitate Nepal’s agricultural exports to the Chinese market.
Chinese Vice Minister of Commerce Ling Ji highlighted the longstanding relationship between the two nations and reaffirmed China’s commitment to expanding investments in Nepal, particularly in tourism and agriculture. He also announced a duty-free facility for Nepalese products under the least-developed countries’ framework, effective this December.
Other key developments discussed at the Nepal-China Business Summit included plans to establish direct flights from China to Bhairahawa and Pokhara airports to boost tourism.
Nepal’s private sector welcomed recent amendments to eight investment-related laws and the drafting of a new bilateral investment agreement as steps to attract foreign investment.
Nepal’s recent credit rating, noted as one of the best in South Asia after India, was highlighted as a confidence-building measure for investors. Additionally, CCPIT Vice President Zhang Shaogang highlighted plans to launch collaborative economic programs and increase Chinese investment in Nepal.
The summit saw participation from 120 Chinese and 50 Nepali entrepreneurs, alongside high-level government officials from both nations. It also featured a business-to-business meeting, promoting direct engagement.
FNCCI President Chandra Prasad Dhakal stressed the potential for foreign investment in Nepal’s infrastructure, including cable cars, theme parks, and resorts. He also welcomed the government’s establishment of a high-level Economic Sector Reform Commission to further enhance Nepal’s business environment.
This summit marks the fourth international event organized by FNCCI in collaboration with global partners over the past 18 months, following similar events in Beijing, New Delhi, and Dubai. It reflects a growing momentum toward fostering economic ties between Nepal and its global partners.
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