UAE is Nepal’s third largest exporter

dubai — The UAE is the third largest exporter to Nepal as the trade exchange between the two countries amounted to $425.2 million in 2017, a 14.4 per cent annual growth compared to 2016, Abdullah Salih Al Salih, under-secretary of the UAE Ministry of Economy for Foreign Trade Affairs, said.

Speaking at the opening ceremony of the UAE-Nepal Economic Partnership Forum in Kathmandu, Al Salih stressed that the two countries have the common vision of starting a new era of cooperation, paving the way for investors and businessmen to form new partnerships and boosting trade ties.

“Despite the positive outlook of our mutual economic relationship, we need to look for new opportunities to increase trade exchange and establish new joint ventures considering the fact that the two countries are working hard to diversify their economic ties,” he added.

He also invited Nepalese investors and businesses to take part in the economic forums and exhibitions being organised in the UAE and welcomed Nepal’s confirmation of its participation in the upcoming Expo 2020 Dubai.

Chandra Kumar Ghimire, Nepal’s secretary of Ministry of Industry, Commerce and Supplies, highlighted that his country is very keen on bolstering its economic, trade and investment ties with the UAE. He also pointed out that Nepal has a lot to offer UAE investors, particularly in the agriculture and tourism sectors that account for 32 to 35 per cent of the country’s GDP, besides lucrative investment opportunities in the energy, food processing industries, education and transport. — Wam