Transparency,
rule of law, efficient court and its independency are keys to attract
investors, according to a visiting US trade representative.
The US
investors look for a transparent system, law and order and investment friendly
policies to invest in Nepal, said deputy assistant of United States Trade
Representative for South and Central Asia Mara Burr here on today.
Addressing private
sector at Federation of Nepalese Chambers of commerce and Industry (FNCCI), she
said that Nepal should concentrate on products and services that have comparative
advantage.
Burr is on Kathmandu
visit to prepare for the Trade and Investment Framework Agreement (TIFA) preparatory
meeting that was scheduled three years ago, but has been delayed due to various
reasons.
During the
meeting, the private sector representatives requested her to help Nepalis goods
get easy access in the US market and encourage US investors to make investments
in Nepal.
Despite
having high export potential, Nepali products have failed to get market access in
the US, they said, asking for policy arrangement to ensure market for
innovative Nepali products in the US. The private sector representatives also requested
Burr to give accreditation to Nepali lab for smooth quality certification of
Nepali products and allow Nepali exporters to participate is US trade fairs.
Against the
backdrop of US authorities rejecting access of many Nepali products to the US
market on quality grounds, they also urged the US to help establish internationally
recognised quality control lab in Nepal.
Burr will
hold preparatory meeting with government officials for TIFA Council Meeting
tomorrow. The meet will discuss agendas for the TIFA Council Meeting to be held
in Kathmandu and fix the date.
The FNCCI president Pradeep
Jung Pandey, on the occasion, urged the US authorities to also encourage US
investment in potential sectors like hydropower, infrastructure development,
and tourism in Nepal.
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