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Nepal-Qatar Business Council established

B360
B360 April 24, 2024, 1:18 pm
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  • FNCCI and Qatar Chamber renew MoU 

KATHMANDU: A Joint Business Council has been established between Nepal and Qatar, encompassing the private sectors of both nations. An agreement was reached for the formation of a council, led by the President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, and the President of the Qatar Chamber, Sheikh Khalifa bin Jassim Al Thani, on Wednesday.

The agreement was signed by FNCCI President Dhakal and Qatar Chamber President Sheikh Khalifa bin Jassim Al Thani, in the presence of the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, and Prime Minister Pushpa Kamal Dahal. The council will focus on business expansion, investment promotion, technology transfer, and tourism promotion.

The Joint Business Council will serve as a permanent dialogue mechanism with Qatar, a Gulf nation undergoing rapid economic growth. The Joint Business Council aims to enhance cooperation and understanding between the private sectors of Nepal and Qatar.

The council will play a pivotal role in attracting investments from Qatar and expanding trade with the Gulf nation, which is recognised as a work destination for Nepalis. There is a high demand in the Gulf countries for agricultural products, water, herbs, spices, and spice products. Given Qatar's status as an investment hub due to its swift economic expansion, the Joint Business Council will play a significant role in attracting investments to Nepal. The council will also work towards promoting tourism.

Following the establishment of the council, cooperation between the two chambers is expected to intensify further. The presidents of both chambers believe that it will aid in investment and business expansion. "This agreement will further enhance cooperation in the future," stated the President of the Qatar Chamber.

Meanwhile, FNCCI President Dhakal stated that the council will undertake more initiatives to strengthen cooperation between Nepal and Qatar. "The council will persist in its efforts to enable Nepal to benefit from Qatar's rapid economic development," Dhakal said. He added that the formation of the Joint Business Council will assist in attracting more investments in sectors such as hydropower, tourism infrastructure, agro-processing, and information and communication technology.

Furthermore, the agreement between FNCCI and the Qatar Chamber has been renewed. The new agreement was signed by the FNCCI President and the Qatar Chamber President.

This agreement was also signed in the presence of the Emir of Qatar, and the Prime Minister of Nepal. The initial agreement between FNCCI and the Qatar Chamber was made in 2005. Since then, the two chambers have collaborated in various ways to promote investment and business.

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