Bolstering Regional Ties
In an effort to promote economic and trade relations, Suraj Vaidya, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), recently signed two agreements with the Union of Chambers and Commodity Exchanges of Turkey and the Georgian Chambers of Commerce and Industry.
The signing ceremony took place during the 26th Conference of the Confederation of Asia-Pacific Chambers of Commerce and Industry in Kathmandu, which saw the arrival of business leaders from all across the world. Nepal is currently looking to expand its economic ties with coun- tries, which possess similar economic conditions. Turkey and Georgia are suitable partners. According to the agreement, Nepal and Turkey will form a Trade Council that will facilitate investment opportunities. Speaking at the signing ceremony, Vaidya stated that the move will provide unparalleled opportunities and avenues for mutual cooperation and will serve as a landmark for economic development in Nepal.
Nepal is desperately searching for trade opportunities to boost its economy and transform itself into a prominent player in the Asia-Pacific region. Relying heavily on its tourism sector, Nepal has aggressively pushed its agenda to secure a deal with the Turkish delegation that agreed to establish air routes to promote tourism which will bring economic benefits to the landlocked South Asian nation. In addition to this, the Nepalese delegation urged the business communities from Turkey and Georgia to invest in hydropower, education, health and infrastructure in order to bolster regional ties.