Nepali Business Team to Lure Investment From China

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Last updated at: (Beijing Time) Saturday, December 07, 2002

Nepali Business Team to Lure Investment From China

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A 30-member Nepali business delegation will attend the sixth meeting of the Nepal-China Non-governmental Cooperation Forum in China next week to discuss tradeand investment potentials between the two countries, The Rising Nepal newspaper reported Saturday.

The delegation will be led by Binod Bahadur Shrestha, acting president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the apex body of the private sector in the Himalayan kingdom.

The meeting, which takes place each year alternatively in Nepaland China, will be held in Guangzhou on Dec. 11-12, aimed at promoting economic, social and cultural relations, bilateral tradeand investments, and expanding cooperation between the two neighbors.

"We will try to seek joint ventures in hydropower production, utilization of human resources, processing of medicinal herbs and use of appropriate agricultural technology," the state-run Englishdaily quoted Shrestha as saying.

"Nepal should cater to Chinese technical know-how to slash the 12 billion Nepali rupees (153.8 million US dollars) trade deficit with China," he noted.

Therefore, the meeting will play a pivotal role in creating a conducive atmosphere for bilateral trade and investments and in promoting preferential markets in China, he added.

On tourism, he said that unless and until the Nepali side improve facilities such as air services and banking, Nepal will not be able to attract Chinese tourists despite the immense potential.

The Nepali delegation comprises representatives from different sectors of Nepal's economic field such as industry, trade, tourism,banking insurance, agriculture, garments, carpets, food production,hydropower, construction and human resources development.

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