Kathmandu, Feb. 8
The
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the
Confederation of Nepalese Industries (CNI) signed separate Memorandums of
Understanding (MoUs) with the German Association for Small and Medium-Sized
Businesses (BVMW) on Wednesday to explore the possibility of German companies
investing in Nepal or collaborating with Nepali businesses.
The
MOUs were signed by FNCCI President Chandra Prasad Dhakal, President of CNI,
Rajesh Kumar Agrawal and Christoph Ahlhaus, Executive Chairman of BVMW, on
behalf of their respective organizations.
The
MOU signing ceremony was held at the Embassy of Germany in Kathmandu in the
presence of German Ambassador to Nepal, Dr. Thomas Prinz.
Dhakal
said that there needs to be collaboration between FNCCI and BVMW to promote
trade relations between Nepal and Germany. He added that both the organisations
need to explore ways to increase exports from Nepal to Germany because Germany
has been a trusted export destination for Nepal for many decades, according to
a statement issued by the FNCCI.
He
also mentioned that SMEs will be affected by Nepal's graduation to a developing
country status the most as Nepal will lose the facility of duty-free access for
exports to Europe. He stressed that SMEs, particularly run by women, need to be
supported. He added FNCCI and BVMW should collaborate for the promotion and
development of SMEs.
Likewise,
CNI informed that Agrawal underscored the potential of the MoU to strengthen
ties between the SME sector of Nepal and Germany. He highlighted the promise it
holds for Nepal's SMEs, envisioning a future where collaboration between Nepali
and German SMEs leads to mutual growth and prosperity.
Ambassador
Prinz expressed his optimism about the pivotal role the MoUs will play in
facilitating the exchange of business opportunities and investments,
particularly in sectors such as AI and IT. He emphasized the significance of
this partnership in transcending borders and fostering cooperation between SMEs
of both nations.
Shubhashish
Thapaliya, Nepal's representative for BVMW, said that the MoU aims to enhance
trade relations, attract investments, and explore avenues for joint ventures
beneficial to both nations.
The
major objectives of the MOU are to enhance cooperation between FNCCI and CNI
and BVMW and establish a practical framework to cooperate in investment
promotion. The MOU also speaks about strengthening institutional relations and
capacity building through mutual cooperation.
As
per the MOU, both FNCCI and BVMW will have a regular exchange of information on
investment policies, rules, regulations, procedures, incentives and
opportunities. There will also be an exchange of general updates on statistics
and data related to Nepal and Germany with a view to making them accessible to
both organizations.
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