Kathmandu. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Malaysia-Nepal Business Council (MNBC) held discussions on expanding Nepal-Malaysia trade relations and investment and cooperation.

During the meeting held at the FNCCI Secretariat teku in Kathmandu on Thursday, the two sides discussed in detail the possibilities of cooperation in the development of Nepal-Malaysia bilateral trade, investment promotion, tourism expansion, construction, agriculture, energy, information technology and service sectors.

On the occasion, fNJ office-bearers briefed about the possibilities and opportunities to expand cooperation between Nepal and Malaysia.

FNCCI senior vice-president Anjan Shrestha said Nepal has given priority to regional cooperation through regional organizations like BIMSTEC and SAARC. He said the Malaysian private sector could play an important role in connecting Nepal with asean, an economic grouping of Asian countries.

Stating that Nepal has a conducive environment for investment, Shrestha said the government was carrying out policy reforms to encourage foreign investment. “The Government of Nepal has recently amended eight investment-related acts to create an investment-friendly environment. The Cabinet has approved the framework for the bilateral investment agreement. Foreign exchange reserves are good, he said. In such a situation, the Federation is ready to invest in Nepal and facilitate it,” he said.

FNCCI Vice-President Jyotsna Shrestha said that there is a possibility of cooperation in tourism, agriculture, health, education, human resources and information technology in Nepal and Malaysia. Similarly, FNCCI Treasurer Bharat Raj Acharya said that the Government of Nepal has created an investment-friendly environment by amending various acts related to investment.

A Malaysian delegation led by Malaysia-Nepal Business Council (MNBC) Chairman Dato Pradeep Kumar Kukreja was present on the occasion. On the occasion, MNBC President Dr. Kukreja said there is ample scope for investment and trade between Nepal and Malaysia.

“I am aware of the many possibilities of trade and investment between Nepal and Malaysia. Malaysia has made many progress in the areas of infrastructure development, information technology and tourism in recent times. There can be cooperation with Nepal in this regard. MNBC is ready for necessary facilitation if the government and businessmen here want,” dr. Kukreja said.

On the occasion, Nepali industrialists urged Malaysian investors to invest in tourism and infrastructure sectors taking advantage of Nepal’s natural beauty, cultural heritage and strategic location. On the other hand, the representatives of the Malaysian delegation emphasized on the possibilities of Nepal’s tourism sector and malaysian technology and experience to be brought to Nepal.