Anjan Shrestha, President of the Federation of Nepalese Chambers of Commerce and Industry, and Shmulik Ari Bash, Ambassador of Israel to Nepal, held discussions on Tuesday on expanding economic, trade, investment, and labor cooperation between Nepal and Israel.
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Anjan Shrestha, President of the Federation of Nepalese Chambers of Commerce and Industry, and Shmulik Ari Bash, Ambassador of Israel to Nepal, discussed on Tuesday the expansion of economic, trade, investment and labor cooperation between Nepal and Israel.
In the meeting held at the Federation Secretariat, both sides emphasized the need to prioritize private sector participation, investment promotion, innovation, technology transfer and trade cooperation to further strengthen Nepal-Israel economic relations. They also agreed to expand economic relations by renewing the cooperation agreement signed between the Federation of Nepalese Chambers of Commerce and Industry and the Federation of Israeli Chambers of Commerce in 1993.
In the meeting, President Shrestha stated that Israel's economic development is inspiring for Nepal and said that Israel's experience in agricultural modernization, renewable energy, digital innovation and health sectors would be useful for Nepal. He praised the employment opportunities provided by Israel for Nepali workers, especially caregivers, and noted that the Government-to-Government (G2G) labor agreement has ensured safe and transparent foreign employment.
Reminding that Nepali workers are currently going to Israel through an institutional process, he expressed his belief that Israel's plan to personally take Nepali workers in the domestic caregiving and agricultural sectors will create more employment opportunities for Nepali youth.
Shrestha claimed that Nepal is becoming an attractive destination for foreign investors, saying that political stability is being maintained in Nepal, and the government is working on policy reforms and simplification of business processes to create an investment-friendly environment. He said that the Federation is ready to expand trade delegation exchanges, business-to-business (B2B) meetings, joint investments and institutional partnerships between the private sectors of Nepal and Israel.
Ambassador Bass said that Israel is interested in expanding more employment opportunities for Nepali workers. According to him, Israel is now positive about taking Nepali workers in the domestic caregiving and agricultural sectors as well. He stated that Israel is a safe labor destination for Nepali women and expressed the view that labor cooperation can be further expanded in the future.
Ambassador Bass said that while Israeli investors are interested in investing in Nepal, they are seeking legal clarity on investment protection, double taxation relief, and easy repatriation of profits.
He mentioned that Israel is ready to expand cooperation with Nepal in cement, herbal and pharmaceutical products, tea, agricultural products, value addition, technology transfer, and private sector. He expressed confidence that as direct cooperation between industrialists and businessmen of the two countries increases, new opportunities for trade, investment, and technology exchange will be created.
