NCC President urges diplomatic missions to act as trade, investment hubs

KATHMANDU: Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal has called for Nepali diplomatic missions abroad to act as active hubs for promoting trade, investment, and industrial expansion, rather than limiting themselves to administrative duties.

Speaking at an interactive session with students of the Asian Institute of Diplomacy and International Affairs (AIDIA) at the NCC Secretariat in Jamal on Tuesday, Agrawal stressed that strengthening economic diplomacy is essential to advance Nepal's global economic interests and present its national priorities effectively.

Addressing Nepal's upcoming graduation from Least Developed Country (LDC) status, Agrawal advised focusing on economic competitiveness rather than potential obstacles. He noted that while India and China account for approximately 65% and 15% of Nepal's total trade, respectively, deepening commercial ties with neighbours while expanding export horizons with other nations will manage post-graduation trade impacts.

To boost global competitiveness, Agrawal urged the government to lower production costs by offering subsidies and concessions on energy, infrastructure, and financial access. He observed that achieving true economic democracy remains necessary to make political accomplishments sustainable.

Agrawal also highlighted the need to channel remittances into productive sectors, leverage the skills and capital of overseas Nepalis, and improve workforce skill certification. Replying to student queries, he concluded that collaboration between the government, the private sector, and diplomatic channels remains vital for Nepal's economic progress.