Wednesday, October 31, 2018

FNCCI, Qatar Chamber to work jointly for bilateral trade and investment promotion

Nepali and Qatari private sector have vowed to explore business and trade potentials between the two countries.
Discussing on various trade potentials in Doha of Qatar high level business leaders of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Qatar Chambers of Commerce and Industry (QCCI) today said that they are all set to move ahead in exploring business and trade potentials between the two countries in the areas of agriculture, tourism, hydropower, infrastructure, among others.
Though, the FNCCI and QCCI had signed Memorandum of Understanding (MoU) back in 2005, the trade and investment between the two countries have not picked as expected.
Welcoming the Nepali delegation led by FNCCI president Bhawani Rana, vice chairman of the QCCI Mohammed Ahmed Twar Al-Kawari expressed interests to enhance bilateral trade and business opportunities in joint collaboration with FNCCI. He said that that for more trade and investment, both the chambers have to exchange delegations and invest in potential sectors.
Rana, on the occasion, also made presentation on Nepal-Qatar investment potentials in the meeting. The FNCCI delegation is in Qatar in the entourage of President Bidya Devi Bhandari.  FNCCI vice president Chandra Prasad Dhakal also, on the occasion, spoke on enhancing investment in the areas of tourism, banking, insurance and other sectors. 
Nepal and Qatar shares the historic and cultural ties since long. The diplomatic relations between Nepal and Qatar was established on January 21, 1977.  The issue of promoting business and trade, FNCCI and QCCI can organise B2B meetings, trade fairs, exchange trade delegations and initiate joint ventures.
Qatar investors have invested in Nepal in tourism and service sector totaling $1.48 million, so far which is very minimal. Nepal-based multinational companies like Unilever, Ncell, among others, are registering huge profits.

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