The Confederation of Nepal Industry (CNI) and the China Council for Promotion of International Trade (CCPIT) have reached a memorandum of understanding (MoU) to establish the Nepal-China Business Council.
Aimed at promoting investment and bilateral cooperation between the two countries, the MoU was signed to establish the Nepal-China Business Council today on the occasion of Prime Minister Pushpa Kamal Dahal’s visit to China.
The MoU was signed by CNI President Rajesh Kumar Agarwal and CCPIT Vice Chairman Zhang Saogang.
Outgoing President Bishnu Kumar Agarwal, Vice Presidents Nirvana Chaudhary, Bhim Ghimire were also present on behalf of the Confederation at the MoU signing event.
With the agreement, it is believed that the full potential of trade and investment opportunities will be tapped to enhance bilateral economic cooperation through the Nepal-China Business Council, outgoing President Agarwawl.
The Council will conduct activities to streamline business activities between the two countries, conduct research and study-related initiatives, create networking opportunities for investment enhancement, exchange business visits, conferences and dialogues.
Similarly, the CNI and CCPIT have prepared a roadmap for cooperation including the formation of the Council. The Nepal-China Business Council will have four members and two representatives from each organization.
With this agreement, the Nepal-China Business Council will bring in Chinese investment and technology along with the enhancement of business relations between Nepal and China, said CNI President Agarwal.
He also expressed his belief that the Council will work effectively.