NCC, Malaysia–Nepal Business Council discuss trade and investment

KATHMANDU: Representatives of the Malaysia–Nepal Business Council (MNBC), who arrived in Nepal on Wednesday, discussed trade facilitation and investment promotion with the Nepal Chamber of Commerce in Kathmandu.

At a meeting at Chamber Bhawan in Jamal, Kathmandu, NCC officials led by President Kamlesh Kumar Agrawal and a delegation headed by MNBC President Pardip Kumar Kukreja explored cooperation on economic relations, employment promotion and investment expansion. The council proposed a bilateral investment and trade partnership during its visit.

Agrawal said diplomatic relations between Nepal and Malaysia have spanned more than 65 years and are strong in trade, investment and employment. He noted that over 500,000 young Nepalis work in Malaysia and that air connectivity between the two countries is growing rapidly. He emphasised the need for improved trade facilitation to address Nepal’s significant trade deficit with Malaysia.

He urged Malaysian entrepreneurs to invest in Nepal’s energy, manufacturing, agriculture, tourism, mining, education and health sectors, and called for increased imports of Nepali goods to help narrow the deficit.

MNBC President Kukreja said Nepal’s tourism industry had drawn his interest. He added that the council had come to assess investment opportunities and planned to work with the NCC to develop a business-friendly environment.