Tue, May 21, 2024

FNCCI prioritises expansion of trade, investment with UK

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KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Shekhar Golchha has said that investment and trade expansion with the United Kingdom should be a priority. In a meeting with the newly appointed Nepali Ambassador to the UK Gyanchandra Acharya, Golchha said that despite the old relations, due to low investment from the UK, the possibility of investment and trade could be explored. FNCCI Senior Vice President Chandra Prasad Dhakal was also present at the meeting. FNCCI President Golchha said that the recent progress in trade infrastructure, easy supply of electricity and improvement in labour relations have increased investment opportunities in Nepal. Infrastructure, labour relations, power supply among other aspects are in progress, he said, adding that these issues should be brought forward in the UK. On the occasion, newly appointed Ambassador Acharya said that the Nepal-UK trade agreement will be a priority during his tenure. "Now that the UK has left the EU, we are considering a separate agreement," he said. Ambassador Acharya said that the National Economic Transformation (Vision Paper) prepared by the FNCCI and the study about the impact of the promotion of the least developed countries on the private sector would help him to understand the perceptions of the private sector and help him work on these issues. Likewise, FNCCI Senior Vice President Dhakal said that non-resident Nepalis have been allowed to open foreign currency accounts in Nepali banks and they should utilise this facility. "This will ease the current liquidity crunch to some extent," he said, adding that the embassy could spread the message in the UK.
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