Qatar and Nepal… Rock-Solid Relationship with New Horizons to Reinforce Economic Cooperation, Partnership -1-

Last January, QC and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) discussed reinforcing cooperation and investment opportunities available in the two countries, in addition to the most critical and promising sectors for cooperation and partnership between the Qatari private sector and its Nepali counterpart. This came during the meeting of Acting Director General of QC, Ali Bu Sherbak Al Mansouri with a Nepali delegation led by HE President of FNCCI Chandra Prasad Dhakal. In April 2018, QC and FNCCI inked a memorandum of understanding (MoU) in Doha with the objective of enhancing cooperation and forging economic partnerships between the business owners in the two countries. The MoU came within the framework of encouraging businessmen in the two countries to forge investment partnerships that would lend impetus to bilateral relations and increase the volume of trade exchange. The trade relations between Qatar and Nepal are constantly evolving with the Nepal's main exports to Qatar in cluding cloth and textile, magnetic storage discs, vegetables, and other goods. Nepals imports from Qatar include polyethylene, polypropylene, and some food products. Nepal is a landlocked country located between India and China whose area is estimated at more than 147,000 sq. km. Its population is estimated at more than 30 million people. It embraces a rugged mountainous land, consisting of high chains that include Mount Everest, the highest mountain peak in the world, which reaches a height of 8,848 meters above sea level. Agriculture is the major activity in Nepal undertaken by three quarters of the population. It constitutes nearly 35% of the gross domestic product (GDP), while industrial activity is focused on the manufacture of agricultural machinery. Agriculture, tourism, and remittances from Nepalese workers abroad constitute the core pillars of the economy and national income in Nepal. The country abounds with enormous potential for investment in multiple fields, such as water, infrastructure, tou rism, and mining industry, as well as hydroelectric power generation fields. Nepal gives foremost priority to the economic development under "Prosperous Nepal, Happy Nepali" mantra. It believes in the fact that such an ambition cannot be achieved unless cooperation is forged with friendly nations, therefore, the country opens its doors to investors and asserts that its lands abound with promising investment opportunities, especially in the field of hydropower, infrastructure, agriculture, as well as the tourism sector, with the latter constituting roughly 24% of Nepalese national income. It is home to the highest mountains in the world. Source: Qatar News Agency