Nepal and Czech Republic today agreed to form a joint economic council (JEC) to boost bilateral trade and investment opportunities.
During the meeting with Finance Minister Barsha Man Pun today at his office, the visiting Czech assistant minister for Environment Ivo Hlavac proposed to form a joint economic council.
Nepal has formed joint economic council with many countries including China, India and Bangladesh to boost the bilateral trade and investments.
Formation of joint economic council is a good start for joint projects, the visiting Czech minister said, showing interest on investment in electricity, water and sanitation management of big cities like Kathmandu.
Pun urged the Czech entrepreneurs to invest in Nepal without any fear. "Nepal is ready to protect foreign investment," he said, adding that the country is moving towards stability as yesterday the major parties signed a peace deal. "Nepal is gradually heading towards economic development and it welcomes foreign direct investment (FDI). The 12-member Czech business team and government officials are visiting Nepal from November 2 to 6 for the first time. The team also met other ministers.