NCC, Pakistani embassy seek to boost economic ties

KATHMANDU: Nepal Chamber of Commerce (NCC) and the Embassy of Pakistan in Nepal have highlighted the necessity of enhancing bilateral economic relations through expanded trade, investment, and enterprise cooperation.

The discussion took place during a meeting between NCC President Kamlesh Kumar Agrawal and Ambassador of Pakistan to Nepal, Mohammad Aamir Khan, at the Chamber Bhawan in Kathmandu on Monday, according to a statement issued by NCC.

At the meeting, Agrawal noted that Nepal and Pakistan have maintained friendly relations since the formal establishment of diplomatic ties on March 20, 1960, and stated that this long-standing relationship must now produce enhanced economic outcomes. He pointed out that despite the signing of a bilateral trade agreement in 1982 and the creation of a Joint Economic Commission in 1983, bilateral trade volumes have not expanded as anticipated.

"We need to move beyond formal agreements and diplomatic dialogue and expand direct business-to-business contacts, market access, joint investment and business partnerships between the private sectors of both countries," Agrawal stated.

He further observed that Nepal possesses significant potential to export tea, large cardamom, ginger, medicinal herbs, essential oils, and processed agricultural products to Pakistan, provided standards regarding quality, packaging, branding, certification, and consistent supply are maintained.

Agrawal also identified avenues for collaboration in information technology, artificial intelligence, digital services, startups, tourism, and cultural exchanges, remarking that information technology and tourism present immediate opportunities for joint work as geographical distance poses fewer operational constraints in these sectors.

Additionally, he suggested that Nepal could explore partnerships with Pakistan across pharmaceuticals, medical equipment, healthcare services, technical training, research, and joint investment, drawing upon Pakistan's established expertise in pharmaceutical manufacturing and the textile industry.

In response, Ambassador Khan said that Pakistan attaches particular importance to its relations with Nepal, mentioning that economic engagement has not grown in line with the deep historical, cultural, and people-to-people connections shared by the two nations.

Ambassador Khan stated that revitalising economic relations with Nepal remains a primary priority of his tenure, while emphasising the importance of connecting the ideas, technology, and entrepreneurship of the youth in both nations with concrete economic cooperation.

Furthermore, Ambassador Khan conveyed condolences over the loss of life and structural damage caused by recent flooding in Rasuwa and surrounding regions. On behalf of the Government and people of Pakistan, he expressed solidarity with the Nepal Chamber of Commerce, the Nepali commercial sector, and the affected local communities.

Both parties concluded the meeting by reaffirming their commitment to furthering bilateral cooperation across trade, investment, tourism, information technology, agriculture, pharmaceuticals, and air and land connectivity infrastructure.

The meeting was also attended by NCC Senior Vice President Deepak Kumar Malhotra alongside other chamber officials.