‘Economic diplomacy crucial to enhance trade and commerce relation’

Kathmandu, March 30

Newly appointed ambassadors to 12 different countries today discussed on adopting economic diplomacy to enhance Nepal’s trade and commerce relations.

The platform for an interaction for the newly appointed ambassadors to discuss on the aforementioned issue was provided by the Institute for Strategic and Socio-Economic Research (ISSR) — a Kathmandu-based think-tank — where diplomats from the foreign missions based in Kathmandu and members of the Parliamentary Hearing Special Committee also participated.

Presenting a paper on the economic scenario of Nepal and the 12 countries where the ambassadors were recently appointed, Prof Bishwambher Pyakuryal, a senior economist who has been appointed as ambassador to Sri Lanka, highlighted the possible areas of trade and investment cooperation with these countries and also for assistance to Nepal.

“As Nepal needs huge investment in various sectors, investors from the countries where we are appointed might be the source countries of foreign direct investment if we are able to convince the government and investors there of the opportunities available here,” said Pyakuryal. “As chief of the mission, we can play a crucial role to enhance bilateral economic cooperation.”

Ambassadors were briefed about the legal reforms, reforms in the foreign investment regime in Nepal, and trade and investment opportunities in the country. Newly appointed ambassadors to Australia, Bahrain, Bangladesh, Denmark, Israel, Japan, Myanmar, Oman, Saudi Arabia, South Korea, Sri Lanka and Qatar participated in the programme.