FNCCI Seeks Chinas Support

FNCCI Seeks Chinas Support

Abhiyan Daily

August 17: A delegation of Federation of Nepalese Chambers of Commerce and Industries (FNCCI) met with the Vice Premier of State Council of China Wang Yang on August 16 and requested for the Chinese government’s support in enhancing the productive capacity, promoting investment, and creating economic opportunities in Nepal.Addressing the foreign delegates at Hotel Soaltee amid a function on Wednesday, FNCCI delegates acknowledged that China has been one of the leading development and trading partners of Nepal and has been supporting in our socio-economic development. They also expressed their gratitude towards the cooperation from China, which has been instrumental in enhancing economic growth of Nepal, reads a statement issued by FNCCI.

“We also request for your support in enhancing Nepalese export to China, as we are facing a huge trade deficit with China. In this regard, we especially urge you to provide a duty-free access to Nepalese potential exportable goods and services,” reads the statement. FNCCI reminded the foreign delegates that the outward investment of China has been increasing significantly and of late Nepal has also seen some large investment from China in sectors like cement manufacturing, hydropower, among others.

FNCCI expressed its hope to receive the increased flow of investment and technology transfer from China to spur the economic growth of Nepal being the next-door friendly neighbor. “Nepal is a member of the Asian Infrastructure Investment Bank and also a signatory tothe Belt and Road Initiative. We believe this would help Nepal to boost its connectivity with China and also address the infrastructure gap,” adds the statement.