11th meeting of Nepal-China non-governmental cooperation forum concludes in Nepal

The 11th meeting of Nepal-China Non-Governmental Co-operation Forum has concluded in Nepali capital Kathmandu on Thursday, where nine points Memorandum of Understanding (MoU) was signed to promote economic tie between the two countries.

The meeting, co-organized by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and All China Federation of Industry and Commerce (ACFIC), were attended by high-level dignitaries and governmental officials.

Since the 11th meeting of the forum was themed on hydropower investment in Nepal, the whole meeting spotlighted how China can help Nepal to promote energy sector with its investment. According to the memorandum, both sides agreed to work together for the development of hydropower and energy sector of Nepal through mutual co-operation and investment.

In this context, Nepali officials presented a paper on "Nepal's Policy for Hydropower Development" and "Hydropower in Nepal -- A Golden Investment Opportunity" whereas Chinese participants presented a paper on "How China can help hydropower sector in Nepal" to fetch the possibilities in energy sector in Nepal.

"Two hydropower entrepreneurs presented at the meeting while dozen hydropower entrepreneur joined the meeting from Nepal," Quan Zhezhu, First Vice-Chairman of the ACFIC told Xinhua.

According to him China has over 100 years history of building hydropower plants and these days it has become the best in the world. "If we want to have successful hydropower projects in Nepal, we should follow practical approach, we need to have friendly investment atmosphere in Nepal. We are positive that Nepal has immense potential in energy sector," Quan told Xinhua.

Though the meeting was focused on hydropower generation in Nepal, it also held business-to-business meeting between Nepali and Chinese entrepreneurs to allow business persons from both sides to explore the mutual co-operation and investment opportunities.

Both sides also agreed to further expand co-operation by providing good opportunities to accelerate bilateral trade, tourism and investment. To promote the trans-himalayan tourism industry, 20 delegates from China's Tibet participates the 11th meeting of the forum for the first time, Quan informed Xinhua.

"We are encouraged by the presence of officials from both countries, intellectuals, business colleagues from Nepal in this significant event," said Kush Kumar Joshi, president of FNCCI in his opening speech. He said, "We sincerely hope this meeting will become a turning point in direction of sustainable and accelerated growth of economic linkages between two countries.

"I am very much hopeful that this meeting will help to further promote trade, tourism, investment, and people-to-people level relation between two countries," he added.

The Nepal-China Non-Governmental Forum was established in 1996, which has become well known and well accepted among the government, academic and business circles in both countries. The 11th meeting of the forum focuses on the issue of energy with the theme " hydropower investment" that how China can help Nepal to promote its hydropower sector.

Meanwhile, inaugurating the ceremony, Nepal's Constituent Assembly Chairman Subash Nemwang said that China is a booming economic power pushing the world economy in the current situation and urged Nepali business community to take advantage of its growing economy. "Increasing relation between people-to-people of both countries with private sectors has increased bilateral trade between the two countries," he said.

Similarly, when addressing the opening session of the meeting, Quan said that economy and trade co-operation has been an important part in Nepal-China relation to promote bilateral trade that has been improving. Since the establishment the forum with joint effort has promoted non-governmental cooperation between two countries which is significant for private sectors of both countries, according to Quan.

"We hope with the efforts of the two governments we hope to provide a platform for business entrepreneurs of both countries so that we can help to uplift economy of both countries," he added.

Moreover, Chinese ambassador to Nepal Qiu Guohong emphasized that the forum has become an important platform for the exchange and communication of entrepreneurs from both countries with the mode of combining academic seminars with business to business meetings gradually established.

According to the organizers, the 12th meeting of the forum will be held in China, however, time, venue and theme of the next meeting has not been finalized yet.

Source:Xinhua