President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Dhakal has said Nepal is looking forward to support from the Government of China in operating direct flights to two new international airports, Bhairahawa and Pokhara, operational in major tourist destinations of Nepal.
Furthermore, he said Nepal's hospitality industry is ready to welcome Chinese tourists, with numerous standard hotels catering to their needs and significant progress in tourist infrastructure, including the two airports.
Speaking at the Nepal China Business Summit, held during the official visit of Prime Minister Pushpa Kamal Dahal 'Prachanda' to China in Beijing earlier today, he said facilitating cross-border trade and ensuring the smooth movement of goods and people is crucial for bilateral socio-economic integration. "The removal of trade barriers, including non-tariff measures, along with the full implementation of the Trade Facilitation Agreement, will lead to increased mutual benefits from bilateral trade," he added.
He also invited the Chinese business community to invest in Nepal's hydropower sector, both for domestic consumption and export to neighboring countries including China itself. Apart from hydropower, investment in tourism infrastructure, such as cable cars, theme parks, and resorts, holds great promise in Nepal.
Nepal has already proven to be a trusted destination for Chinese investment, with Chinese investment accounting for over 35 per cent of the total approved foreign direct investments. Furthermore, China is Nepal's second-largest trading partner. However, while we import 16 per cent of our total goods from China, our exports to China remain modest.
Nepal is committed to further opening up to foreign investment, technology transfer, public-private partnerships, and investment-related policies to attract both global and regional FDIs. We anticipate a boost in FDI inflows from China, maintaining China as the largest source of FDI for Nepal, he added.
Dhakal also said FNCCI, as the apex private sector representative body in Nepal, is always ready to cooperate on all fronts to further promote economic relations between Nepal and China.
