Thursday, September 5, 2013

Nepal, Czech Republic aim at boosting trade, investment

Private sectors from Nepal and Czech Republic agreed to boost cooperation in promotion of bilateral trade and expansion of investments.
A Confederation of Nepalese Industries (CNI) delegation that is in Czech Republic has signed an agreement today with Confederation of Industry of Czech Republic aiming at boosting trade and investment, according to a CNI press note.
CNI president Narendra Basnyat and Confederation of Industry of the Czech Republic president Jaroslav Hanak signed the agreement on behalf of their respective institutions.
Basnet, on the occasion urged the hosts to invest in Nepal.
Investors from the Czech Republic are keen on investing in physical infrastructures, hydropower and tourism in Nepal.
A delegation of Nepali private sector has visited Czech Republic to explore further trade and economic cooperation between the two countries – both in private and public sectors – with seven representatives.
The delegation also plans to propose a Joint Economic Council apart from early signing of Double Taxation Avoidance Agreement (DTAA) and Bilateral Investment Promotion and Protection Agreement (BIPPA) – that could ensure more investment in Nepal – between the two governments.
Hanak, on the occasion, showed interest to invest in Nepal in the sectors that have comparative advantages.
Nepal exported Rs 27.74 million and almost double to Rs 54.10 million worth merchandise to and from Czech Republic in 2013.
Nepal exports mainly readymade garments, handicrafts, hand-knotted woolen carpets, tea and medicinal herbs to the Czech Republic and imports constitute medicine and medical equipment, electrical goods, machinery and parts, glass beads, motor cars, bulldozer, crane and parts and foodstuffs.

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