Himalayan News Service

Kathmandu, February 20:

The meeting of Confederation of Asia Pacific Chamber of Commerce and Industry (CACCI) ended in New Delhi today. The meet discussed on enhancing ‘productivity’ in Asia Pacific nations by enhancing their efficiency through the adoption of new technologies.

On the sidelines of the 69th CACCI meeting, Chandi Raj Dhakal, first vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) chaired the meeting of Asian Clothing and Readymade Council (ACRC) and presented a country paper on Nepal’s economic development, states a press release issued here today by FNCCI.

“Dhakal, in the council’s meeting, requested all Asia Pacific members to invest in Nepal and exploit the comparatively advantageous market,” added the press statement. “The reforms to be taken in the days ahead with ‘changed political environment’ would definitely help to improve investment climate in Nepal,” he assured.

After extensive reforms in Nepal, the growth rate of gross domestic product (GDP) will improve immensely, Dhakal said in the meeting. During the meeting, he discussed challenges faced by the Nepali enterprises by the ‘phasing out’ of textile quota by the US for Nepali readymade products and ending of the multifiber agreement (MFA). In such a context, an agreement has been reached between FNCCI and other CACCI members to work out jointly in meeting the challenges, stated the press release.

CACCI members were urged to go effectively by expanding markets with other parts of the globe, identify new technologies and move jointly in promoting products’ base. On the occasion, CACCI’s Young Entrepreneur’s Committee (YEC) meet was also held which was actively participated by Saurav Jyoti, vice-president of YEC. On the occasion, a decision has been taken to boost economic and technical cooperation for young entrepreneurship development, read the FNCCI’s press statement.

At the same function, Pradeep K Shrestha, former president of FNCCI, also urged to participate in the conference in Nepal for investments and exploit the existing resources. Similarly, Sunil Kant Munjal, president of Confederation of Indian Industries (CNI) commented that the programmes between the FNCCI and CNI should move smoothly despite the recent developments in Nepal.