ISLAMABAD ( Web News )
Ambassador of Federal Democratic Republic of Nepal to Pakistan H.E Tapas Adhikari visited the Federation of Pakistan Chambers of Commerce & Industry FPCCI, Capital Office, Islamabad, and interacted with President Irfan Iqbal Sheikh, Vice President Umar Masood Ur Rehman and others members of the FPCCI. They had a detailed discussion on trade and economic ties between Pakistan and Nepal. During the interactions, the ambassador highlighted the need to improve bilateral economic relations between Nepal and Pakistan since both countries have great potential to cooperate. He further said that the bilateral relations between our countries have always been excellent. Both Nepal and Pakistan are members of SAARC and have similar cultural and social backgrounds. Presidnet Hunza Chamber of Commerce & Industry Mr. Raziq Khan, President Rahim Yaar Khan Chamber of Commerce & Industry Mr. Shokat Hayat and other were also present on this occasion.
H.E Tapas Adhikari said that “Pakistan is one of the most important countries for Nepal to promote regional trade, especially in the perspective of the SAARC regime but the logistics issues, lack of communication, and proper marketing were some hurdles in giving a boost to the bilateral trade,” stressed the need for exchanging business delegations to enhance trade and promotion of investment opportunities between the two sides.
The Ambassador of Nepal to Pakistan shed light on Nepal’s provisions and policies relating to industry, trade, tourism, and investment and thanked the FPCCI for its willingness to increase engagement with Nepal. He expressed commitment to facilitating Pakistani business communities for increasing business relations with Nepal. HE the Ambassador called upon the business communities as well as people of all walks of life to visit Nepal and in Inviting the business communities to invest in Nepal the Ambassador underscored major facilities according to the investors in Nepal.
Talking to the Ambassador of Nepal, President FPCCI Irfan Iqbal Sheikh & Vice President Umar Masood Ur Rehman said that Pakistan and Nepal are members of SAARC and enjoys friendly relations since the 1960s. “We keep emphasizing a well-devised strategy for ensuring regional peace through maintaining trade and economic relations among SAARC countries. Nepal, being a land-locked country between China and India, can understand the importance of regional trade better than others,” the FPCCI President added. They said that Nepal is an import-oriented economy whose imports are far greater than exports. In the year 2021, Pakistan exports to Nepal were US$ 4.7 million while the imports from Nepal were US $ 2.6 million.
The President & Vice President of FPCCI further said that despite huge trade potential, the trade volume between the two countries is very low which is just US $ 7.3 million. He said the connection and connectivity problem is one of the basic hurdles in trade promotion. They discussed various opportunities of joint ventures and said agriculture and tourism are the key sectors where both countries could collaborate with each other. They said that Pakistani products, particularly rice, leather and leather goods, carpets, pharmaceuticals, textiles, pashmina lawn, textile made-ups and allied products have great potential in Nepal which needs to be marketed properly. They said a number of Pakistani investors are interested to enter into joint ventures with Nepalese investors.