The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Cambodian Federation of Employers and Business Associations (CAMFEBA) signed a Memorandum of Understanding (MoU) to strengthen bilateral trade cooperation.
The MoU was signed on June 10 amid a program in Geneva, Switzerland, by FNCCI President and CAMFEBA Vice President Sok Lor, in the presence of Nepal's Minister for Labor, Employment and Social Security, Sharat Singh Bhandari.
According to FNCCI President Dhakal's Secretariat, both parties emphasized the importance of sharing best practices related to employment, labor laws, and enterprise development. They are also committed to implementing joint programs for research, capacity enhancement, and investment promotion.
The MoU highlights cooperation in business-to-business (B2B) activities, identification of trade partners, collaboration between trade forums, and mutual support in exploring investment opportunities, the Secretariat said.
As per the MoU, he shared that cooperation would be exchanged in entrepreneurship, industrial relations, human resources, professional security, skill development and investment promotion sectors.
Vice-President of the Cambodian Federation of Employers and Business Associations (CAMFEBA), Lor, expressed the belief that this MoU would create new opportunities as well as pave ways for a strong network and regional collaboration.
According to the Secretariat of President Dhakal, an arrangement of regular consultation and necessary works would be made for effective implementation of the MoU.
President Dhakal shared that it has been expected that this MoU would deepen economic collaboration between Nepal and Cambodia as well as create an inclusive business environment.
It is believed that the MoU would help promote trade, expand collaboration and investment between the two countries
FNCCI Vice-President Jyotsana Shrestha, Executive Member Babukaji Karki and Executive Director of CAMFEBA, Tep Sophoan, were present on the occasion. (RSS)
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