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Nikkei signs MoU with AssocHAMUP for promotion of Nepal-India trade and investment

Kathmandu. The Nepal-India Chamber of Commerce and Industry (NIKCI) and the Associated Chambers of Commerce and Industry of Uttar Pradesh and Uttarakhand state of India signed a Memorandum of Understanding (MoU) on Monday to strengthen trade and economic ties between Nepal and India.

The MoU was signed by Sunil KC, President of NIKCI and E DP Singh, President of AssochamUP. The MoU is aimed at institutionalizing cooperation in the fields of trade, agriculture, investment and cross-border business promotion.

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According to the MoU, the two organisations will carry out activities such as exchange of trade delegations, sharing information and organizing joint promotional events simultaneously. Under this, both sides have committed to ensure the participation of business representatives in trade visits, investment conferences, fairs and exhibitions to be held in each other’s countries.

As per the MoU, Nikkei will be a partner of ASSOCHAMUP in Nepal, while ASOCHEMUP will act as a partner in Uttar Pradesh and Uttarakhand states of India. “This partnership will also cover initiatives such as joint study, market survey, and publication exchange aimed at identifying new areas of mutual economic interest,” nikki president Sunil KC said after the agreement. ’

AssochamUP President E DP Singh said, “Both sides will regularly share non-confidential details and publications related to trade and investment. Established in 1993 under the leadership of Prabhakar Rana, NIKCI is a bilateral, non-profit organization working to promote trade, investment and economic cooperation between Nepal and India. It facilitates strategic partnerships and sectoral cooperation in the areas of energy, tourism, infrastructure, industry, among others.

The agreement is a formal step to further strengthen the long-term economic interdependence between Nepal and India. Both organizations have committed to resolve the problems faced by cross-border businesses and cooperate in potential areas, Nikki said.

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