Nepal Chamber of Commerce has urged newly appointed Ambassador Gyan Chandra Acharya to play a role to facilitate trade and export promotion with the United Kingdom.
Stating that Nepal’s diplomatic relations with the United Kingdom have not been able to flourish despite more than two hundred years of economic and trade relations, the Chamber urged to take diplomatic initiative to facilitate trade and export promotion.
Welcoming the newly appointed Ambassador to the UK Acharya at the Chamber Building in Jamal, Kathmandu, Chairman Rajendra Malla stressed on the need to identify additional exportable items as the current trade share is very small.
Referring to the fact that only around Rs 2 billion is traded annually with the UK, Chairman Malla said that cooperation with British industrialists could be done to increase exports by branding herbs, minerals and tea. Chairman Malla said that a high-level bilateral trade meeting should be initiated for this.
Chairman Malla drew the attention of Ambassador Acharya to the fact that high level business meetings have not been held between Nepali and British industrialists for the last 10 years.
According to the National Bank of Nepal, Nepal had traded Rs 2.3 billion in handicrafts, pashmina, garments and wool last year. The UK has imported vehicles, chemicals, alcohol and other goods worth Rs 2.26 billion.
Chairman Malla also urged Acharya to take initiative for investment in infrastructure, water resources, hotels and tourism. He said that there is a possibility of exporting gold and silver jewelery, jeans paint and other readymade garments to the UK.
Chamber officials, along with newly-appointed Ambassador Acharya, stressed the need for a separate trade agreement with the UK after Brexit. Chamber officials also urged Ambassador Acharya to hold a trade fair at the Nepalese Embassy in the United Kingdom at least once a year.
In response, Ambassador Acharya said that his first step would be to establish separate trade relations with the United Kingdom after Brexit. Acharya says he will do his best to turn the oldest diplomatic relationship with the UK into a high-level economic one.
He also promised to initiate business meetings between the two countries at the beginning of his tenure.
