Monday, 15 August, 2022

Nepali envoy in US urged to attract investment


By A Staff Reporter
Kathmandu, Jan. 15: The Confederation of Nepalese Industries (CNI) has urged the proposed Ambassador to the United States of America, Shridhar Khatri, to attract foreign direct investment (FDI) in Nepal, assist in technology transfer, promote exports and emphasize on tourism promotion.

During a discussion held at the CNI office on Friday, President Bishnu Kumar Agrawal urged Ambassador Khatri to establish easy access of Nepal's specialised products to the US market.
CNI urged him to emphasise on the promotion of FDI in Nepal as there is investment potential in many areas. Similarly, as the USA is a good market for readymade garments and hard cheese produced in Nepal, entrepreneurs also emphasised on the promotion of such items.

Agrawal also requested Khatri to take initiative to maintain the trade facilities that would be lost with Nepal's graduation from the Least Developed Country (LDC) in 2026. "Only a few items from Nepal are being exported to the United States. Special initiatives should be taken to promote them," he said.

Stating that Nepal needs to build quality infrastructure, Agrawal stressed on the need to implement the agreement reached between Nepal and the US assistance project Millennium Challenge Corporation with the approval of the Parliament. "The private sector has called for this agreement to be taken forward," he said.

Immediate Past President of CNI, Satish Kumar More, mentioned that Nepal would be an investment opportunity with a big market for the American investors as the export of Nepali products to India would get special benefits as per the trade agreement between the two countries.
CNI also stressed on strengthening economic diplomacy between Nepal and the USA.

In response, Ambassador Khatri said that he would move ahead on economic issues in cooperation with the private sector.
He also pledged to take initiative to make Nepal's specialised products easily accessible in the US market and facilitate the entry of Nepali goods there.

Meanwhile, CNI on Friday handed over humanitarian aid to SAARC member country Afghanistan. Agrawal handed over relief items to Foreign Minister Dr. Narayan Khadka on behalf of CNI.

Receiving the aid materials, Minister Khadka said that the Government of Nepal and the private sector have provided exemplary assistance in the crisis in the neighboring countries. "The government has called on the private sector, you have provided assistance," Khadka said. "This action has strengthened the cooperation between the government and the private sector."

CNI handed over medicine worth about Rs. 2.3 million to help solve the humanitarian crisis in Afghanistan. The items will be sent to Kabul on Sunday.