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With the aim of further strengthening economic cooperation between Nepal and India, Nepal-India Chamber of Commerce and Industry (NICKI) and Federation of Indian Chambers of Commerce and Industry (FICCI) have agreed to work jointly to promote mutual trade, investment and cross-border trade.
According to the MoU signed by Nikkei Chairman Sunil KC and FICCI General Manager Jyoti Bij in New Delhi, the two organizations will exchange trade delegations, share non-confidential information and organize joint promotional events. It is also said that Nikkei will be the exclusive partner of FICCI for Nepal and FICCI will be the exclusive partner of Nikkei for India. The
agreement also mentions that both sides will regularly exchange various publications and data related to trade and investment. “We will organize at least one major joint event every year. We will support the exchange of delegations between the businessmen of Nepal and India,' said Nikki's president KC, 'Our partnership will include joint studies, market surveys and economic development and publication exchange to identify new areas of interest.' "We are moving forward with the commitment to strengthen trade and investment relations between India and Nepal as the leading commercial organizations of our respective countries," she said.
FICCI, headquartered in New Delhi, has more than 250,000 public and private sector companies. It has been playing a leading role in policy reform, economic growth, innovation and investment promotion. The agreement formalized the longstanding economic interdependence between the two South Asian neighbors.
Both organizations have pledged to work closely together to address the challenges facing cross-border business and utilize new opportunities. Nikki's members can use all FICCI's resources and network to expand Nepal's business and economy. According to the
agreement, both chambers will also work in collaboration with BBIN and BIMSTEC regions, apart from Nepal and India. "We are now launching the Nikkei-Fikki Track 1.5 initiative, which will involve representatives from both institutions and governments. This initiative will help promote investment and fulfill the current growing investment aspirations in Nepal,” KC said.
