Business forum held to promote Indonesian investment in Nepal

Kathmandu, Oct. 5

The Embassy of Indonesia for Bangladesh and Nepal, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Honorary Consulate of Indonesia in Kathmandu jointly organised a 'Business Forum' in the Capital on Thursday to promote bilateral investment, trade and tourism.

Speaking at the programme, Ambassador of Indonesia to Bangladesh and Nepal, Heru H. Subolo, stressed on the need for increased business and people-to-people exchanges between the two countries.

According to him, there are many bilateral business potentials between Indonesia and Nepal and governments and business communities should put their efforts to tap those potentials.

President of the FNCCI, Chandra Prasad Dhakal who is also the Honorary Consul of Indonesia in Nepal, stressed on the promotion of tourism and trade between the two countries. He also urged the investors of Indonesia to come to Nepal and invest in the areas of comparative advantage.

Dhakal said that direct flight from Jakarta to Kathmandu could be instrumental in enhancing trade and tourism as well as people-to-people relations between the two friendly nations.

He also sought the support of the Indonesian government in prioritizing Nepali goods in the Indonesian market, a move aimed at boosting trade relations between the two nations.

Vice-President of the FNCCI, Hemraj Dhakal, stressed on collaborations between the businesses of two countries in the areas including tourism and electric vehicle trade and manufacturing.

The business forum is held every year to establish good relations between Indonesia and Nepal. Indonesia, with its 270 million population, is the largest economy in the Southeast Asian region and known as the newly industrialized country.

A member of the G20, it is the world's 16^th largest economy, 7^th largest in terms of the Gross Domestic Product (GDP) of US$ 1.3 trillion on the basis of purchasing power.

However, trade between Nepal and Indonesia is small with just US$ 20.6 million.

"Indonesia hopes that Nepal can utilise the prospective Indonesian market," Ambassador Subolo said. Nepali major exports to Indonesia are carpets, tea and jute products while Nepal imports palm oil, mineral fuels, wood and paper from Indonesia.

Speaking on the occasion, Ambassador Subolo informed about the Trade Expo Indonesia has slated for 18-22 October this year which is being organised in Tangerang City, near Jakarta.

The expo focuses on Business-to-Business trade while also promoting tourism and investment exhibitions for Indonesian export-oriented products and services, said Subolo. 

Published in The Rising Nepal on 6 October 2023.