UAE businesses requested to invest in Nepal

Kathmandu, Nov. 16

A delegation of Nepal UAE Chamber of Commerce and Industry (NUAECCI) has requested the business community and investors in Dubai to invest in Nepal and help in the promotion of Nepali tourism.

Pawan Kumar Agarwal, President of the binational chamber, said that the first visit to Dubai after the formation of NUAECCI was a historic success and it will bring positive results in the expansion of bilateral relations and the economic development of Nepal.

Briefing about the visit that happened last week, he said on Wednesday that the aim of the visit was to promote bilateral trade relations and to search for opportunities to promote Nepali business and tourism in the UAE as well as to attract the UAE investment in Nepal.

The 13-member visiting team chaired by Agrawal interacted with the Dubai Chamber, RAK Chamber, Nepali Embassy Dubai and Federation of Dubai Chamber of Commerce and Industry and took initiatives to enhance business, investment and tourism relations.

"UAE Chambers and businesses were not very aware of the immense business potential in Nepal since there was little representation from Nepal to the UAE over the last few years. The delegation of the NUAECCI has provided a window into the business opportunities in Nepal, as well as a supporting organisation for any business investments here," said Agrawal.

According to him, his delegation informed the businessmen there about the business opportunities in Nepal.

Likewise, the binational chamber said that it had a fruitful meeting with the team led by Omar Abdulaziz Al Khan at Dubai Chambers. Umar said that this was the first business delegation meeting with Nepal and although it was the first meeting, the Dubai Chamber promised to connect with other government organisations and support the skill development of Nepali workers in the UAE.

In that meeting, it was also agreed to assist in clarifying the regulations regarding the export of fruits and vegetables to the UAE, which will increase the bilateral trade.

The chamber also held detailed business discussions with the RAK Chamber, and a memorandum of understanding was signed with the aim of increasing trade relations between Ras-Al-Khaimah and Nepal.

RAK Chamber is going to provide stalls to Nepali businessmen at the exhibition to be held in March next year. They are also willing to resume commercial flights between RAK and Nepal and have shown great interest in agricultural opportunities.

The Nepal UAE Chamber has requested the Nepali Ambassador in Dubai, Krishna Prasad Dhakal, to provide a dedicated person in the embassy responsible for increasing trade relations between Nepal and the UAE. “The Embassy has assured us of their full support and will soon organize an interaction program between UAE-based businesses and our members,” said Agrawal.

The delegation also held discussions with the Federation of UAE Chambers of Commerce and Industry as well.

The Nepali business delegation was comprised of President Agrawal, vice-president Jeevan Kumar Bhandari, executive members Nishan Rajbhandari, Anoj Rimal and Samir Thapa, and members Shiva Prasad Ghimire, Sudip Ghimire, Bimal Kumar Sawarthia, Ramindra Neupane, Anjan Bhandari, Binaya Upadhyay, Vijaya Kumar Chaudhary and Sunil Bhakta Shrestha. 

 Published in The Rising Nepal daily on 17 November 2022.