Kathmandu, Sept. 24
A
delegation of Nepal Chamber of Commerce led by its President Rajesh Kazi
Shrestha has called on the newly appointed Ambassador of South Korea to Nepal
Park Si Ho-Suk on Thursday.
During
the meeting, they discussed the development of infrastructure, including
hydropower, attracting and encouraging foreign investment, reducing trade
deficit, and facilitation for foreign employment.
Stating
that no country is immune from COVID 19, Shrestha said that global economy had
been affected adversely and Nepal was no exception. The pandemic had incurred
severe impacts on the business and economy.
Informing
the ambassador about the bilateral business cooperation between the two
countries, Shrestha said that after the establishment of diplomatic relations
with South Korea, there had been significant development in trade, investment,
and tourism promotion.
However,
Nepal's trade deficit with South Korea is ever growing with the former
witnessing deficit of 95.3 million US dollars. Nepal exported goods worth 1.6
million UD Dollar and imported merchandise of 97.3 million US dollar.
Korean
joint venture projects in electronics, hotel, chemical industry,
pharmaceutical, and mineral water are in operation. Commercial and industrial
investment of Rs. 12.57 billion has come from South Korea to Nepal so far.
Shrestha
hoped that the signing of the Memorandum of Understanding between the NCC and
Korea Chamber of Commerce and Industry to enhance economic relations between
the two countries would help to further increase the bilateral trade and
investment.
South
Korea has pledged its support in the areas of investment and tourism promotion,
technology transfer, exchange of business delegations, skill development and
training, development of the agricultural sector, and post-COVID 19 mutual
assistance.
Ambassador
Ho-Suk pledged his support in strengthening the bilateral trade and investment
relations.
Senior
Vice President of NCC Rajendra Malla and Vice President Deepak Kumar Malhotra
were also present on the occasion.
Published in The Rising Nepal daily on 25 September 2020.
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