We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
The Nepali Embassy in London held an interaction on trade and investment opportunities between Nepal and the UK on Thursday 27th February at the embassy.
According to the Embassy, the main objective of the program is to promote Nepali goods and services in the UK and to promote the flow of British Foreign Direct Investment (FDI) in Nepal. In the
event, Ambassador Chandrakumar Ghimire highlighted the efforts of the Nepal government to attract foreign direct investment and discussed the relationship between Britain's leading role in FDI and London's financial vitality. Ambassador Ghimire emphasized that there is immense potential for UK investment in Nepal in areas such as green projects, hydropower, infrastructure, financial services and manufacturing.
Ambassador Ghimire also mentioned that the institutional and legal framework as well as the continuous progress in Nepal's trade and investment policy and law will create a favorable environment for business.
In addition, Ambassador Ghimire also emphasized the need to establish bilateral mechanisms for business-to-business (BTUB) and government-to-government (GTU) to facilitate trade and investment between the two countries. He also pledged to help and support British businessmen in their investment and business initiatives in Nepal. At the conclusion of the
program, Ambassador Ghimire emphasized the need to further revise the existing draft of the double tax agreement and described Nepal's significant diaspora presence in the UK as a valuable asset.
Ambassador Ghimire also urged the Nepalese diaspora businessmen to get mutual benefits by connecting with various businesses between Nepal and the UK. In the
program, there was a direct interaction with around 50 businessmen and investors. The participants raised important issues including double taxation exemption agreements and lack of essential laws. The participants also emphasized the need for high-level political visits and business delegations and the need to increase the speed of facilitation in trade and investment matters. At the
event, the British Ambassador to Nepal, Rob Fenn, highlighted the harmonious relationship between Nepal and the UK and praised the recent initiatives taken by the Nepalese government to improve the business environment. Appreciating Nepal's investment summit and Everest Dialogue, Ambassador Fen also expressed his views on the scope of Nepal-UK cooperation and collaboration in areas such as higher education, export finance and foreign direct investment (FDI).
Ambassador Fain also said that FDI has an important role in the British economy, especially tourism, welfare tourism, agricultural processing, renewable energy and information technology.
Lesley Craig, the head of the South Asia Regional Department of the British Foreign Office (FCDO), emphasized on the economic policy reforms of Nepal to effectively transform the friendship between the two countries into a mutually beneficial economic partnership, noting that the information technology sector is flourishing in Nepal. Craig stressed the need for inclusive growth and also mentioned the need for inclusion of women in business.
Tamanna Ali from the UK's Department of Trade and Industry outlined how the Double Taxation Agreement is working to align trade priorities between the UK and its partner countries.
