China Council for the Promotion of International Trade (CCPIT) and Nepal-China Chamber of Commerce & Industry (NCCCI) agreed to foster cooperation in promoting Chinese companies to invest in Nepal.

The agreement was made as CCPIT Vice Chairman Zhang Shenfeng met with NCCCI Chairman Rajesh Kazi Shrestha in Kathmandu on January 20.

Zhang Shenfeng said, China and Nepal are friendly neighboring countries. The two countries saw an increase in the interaction in politics and rapid development in economic cooperation. CCPIT is willing to foster cooperation with Nepal’s relevant agencies to expand bilateral trade and launch mutually-beneficial cooperation in power, telecommunications, railways and tourism industry.

Shrestha urged the Chinese investors to invest in Nepal as investment climate has improved in Nepal with the formation of a stable government.

Stating that Nepal, as a least developing country, would receive the facilities in international trade, he asked the investors to take advantage of the facilities by increasing their export by establishing manufacturing and other industries in Nepal.

"Tourism, agriculture, water resources, infrastructure, banking and insurance sectors are potential areas of investment in Nepal," Shrestha informed.

(Part of the text from People’s Review of Nepal)