Beijing, December 4, 2024: The Nepal-China Business Summit concluded successfully, with commitments from both governments and private sectors to introduce continuous reforms aimed at attracting foreign investment, particularly from China. The summit, organized during Prime Minister KP Sharma Oli’s official visit to China, was a collaborative effort by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the China Council for the Promotion of International Trade (CCPIT), and the Embassy of Nepal in China.
The event focused on policy improvements, investment expansion, trade facilitation, and tourism promotion. Prime Minister Oli, the chief guest, highlighted Nepal’s improving investment climate and historical ties with China, emphasizing their role in fostering economic development. He reiterated the government’s commitment to protecting investments and commended FNCCI for promoting Nepal as an international investment and tourism destination.
Addressing the trade deficit with China, Oli urged measures to facilitate exports, particularly of Nepali agricultural products. He also stressed the importance of collaboration in creating a conducive business environment and enhancing bilateral trade.
Chinese Vice Minister of Commerce Ling Ji lauded the growing economic relations between the two countries and assured further expansion of Chinese investments in Nepal. He highlighted China’s role as Nepal’s largest investor and second-largest trade partner and expressed readiness to enhance cooperation in tourism and agriculture. Ling also announced duty-free access for products from least-developed countries, including Nepal, starting December.
FNCCI President Chandra Prasad Dhakal outlined Nepal’s recent reforms, including amendments to investment-related laws and the introduction of a bilateral investment agreement draft. He announced Nepal’s first credit rating, positioning it as the second-best in South Asia, and advocated for improved border infrastructure and direct flights between Nepal and China. Dhakal also highlighted investment opportunities in hydropower, tourism infrastructure, and IT-enabled services.
CCPIT Vice President Zhang Shaogang assured continued cooperation in boosting Chinese investments in Nepal and promoting Nepali exports. He announced upcoming economic partnership programs in collaboration with FNCCI.
Investment Board Nepal CEO Sushil Gyawali emphasized Nepal’s investment potential and pledged facilitation for Chinese investors. Manoj Paudel, Chairperson of FNCCI’s Foreign Investment and International Relations Forum, pointed to Nepal’s natural resources and young workforce as key advantages for foreign investment.
The summit witnessed participation from 120 Chinese entrepreneurs and 50 Nepali representatives from FNCCI, the Confederation of Nepalese Industries, and the Nepal Chamber of Commerce. High-ranking government officials and members of Prime Minister Oli’s delegation also attended, with a business-to-business meeting preceding the event.
This marks the fourth international summit organized by FNCCI in the past 18 months, following successful events in Beijing, New Delhi, and Dubai. The Nepal-China Business Summit reinforces the commitment to strengthening economic ties and exploring new avenues for collaboration.
