FNCCI bid to woo Turkish investors

Kathmandu, March 14:

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar Joshi met ambassador of Turkey to Nepal Lebent Bilman here today and discussed with him a slew of mutual issues including expansion of bilateral trade, investment, tourism and technology between the two countries.

On the occasion, both sides agreed to increase bilateral trade volume which is meagre at present. In the fiscal year 2007-08, Nepal had exported goods worth Rs 107.7 million to Turkey and imported goods worth Rs 144.1 million.

Joshi urged the Turkish envoy to increase Turkish investment in Nepal’s hydropower, tourism, agro industries, infrastructure, health and education sectors. The president of the umbrella organisation of Nepal’s private sector apprised the envoy of the Investment Promotion Board (IPB) — that is chaired by Prime Minister Pushpa Kamal Dahal ‘Prachanda’ — for working on fast track basis, Nepal’s ambitious plan of generating 10,000 MW hydropower in the coming 10 years and the coming Nepal Tourism Year 2011. “We request Turkey to invest in Nepal in hydropower, tourism, infrastructure development for agri-produce and other sectors,” he added.

FNCCI and the Turkish umbrella organisation of private sectors — Confederation of Businessmen and Industrialists of Turkey (CBIT) — have signed a Memorandum of Understanding (MoU) to work jointly to promote bilateral trade.

Bilman said that Turkey was interested in signing bilateral agreements in trade and commerce with Nepal. CP Khetan, honourary consul for Turkey, and Akhil Kumar Chapagain, president of Nepal-Turkey Chamber of Commerce were also present during the meeting.