NCC holds discussion with Zimbabwe ambassador on trade facilitation, investment promotion

KATHMANDU: Nepal Chamber of Commerce (NCC) held a discussion with the Ambassador of Zimbabwe to Nepal regarding trade facilitation and investment promotion.

At a programme held at Chamber Bhawan in Jamal, Kathmandu, on Tuesday, NCC President Kamlesh Kumar Agrawal and Ambassador of Zimbabwe to Nepal, Stella Nkomo, discussed cooperation on issues such as trade partnership, investment opportunities and steps against climate change.

President Agrawal told Ambassador Nkomo, "The diplomatic relations between Nepal and Zimbabwe are approaching four decades, and both countries have been cooperating in international forums on important issues like the non-alignment policy and climate change." He added, "Now, we should also move forward by cooperating in the economic sector."

NCC President Agrawal also proposed to Ambassador Nkomo that Zimbabwe initiate efforts to open a residential embassy in Nepal. Agrawal emphasised that by opening residential embassies in both countries they should cooperate on trade facilitation, climate change, investment promotion and tourism.

Agrawal stated that both countries should benefit economically through bilateral agreements. He also expressed the view that there should be business-to-business (B2B) meetings between the private sectors of Nepal and Zimbabwe.

NCC President Agrawal stressed that the investment environment in Nepal is favourable and that the return on investment is assured. He said, "It is a pleasing matter for us in the private sector that when Nepal conducted its sovereign credit rating through an internationally recognised institution, it received a BB- rating, ranking second only after India in South Asia." Agrawal proposed to Ambassador Nkomo that Zimbabwe initiate investment in sectors such as hydropower and tourism, and stated that foreign investment has been greatly facilitated by the easy arrangements made in the budget for the upcoming fiscal year.

During a meeting with NCC office-bearers, Ambassador Nkomo expressed her seriousness about opening a residential embassy in Nepal and committed to initiating efforts in that regard.

The Ambassador also stated that there is investment potential in Nepal's hydropower sector and that she would initiate efforts with Zimbabwe's private sector in this field. Stating that Mount Everest in Nepal fascinates her, Nkomo emphasised the immense potential for investment in the tourism sector and stated that she would initiate efforts for economic cooperation and partnership between the two countries.