KATHMANDU, JULY 1
The International Relations and Global Diplomacy Dialogue (IRGDD) and the Nepal Chamber of Commerce (NCC) have signed a Memorandum of Understanding (MoU) aimed at strengthening NNepal's economy through economic diplomacy. The agreement was signed on July 1 during the NCC's Diamond Jubilee celebration in Kathmandu, marking 75 years of its contribution to Nepal's private sector.
IRGDD President Amb. Dr. Sarmila Parajuli Dhakal and NCC President Kamlesh Kumar Agrawal formalized the partnership during a ceremony attended by dignitaries and representatives from both institutions. The agreement formalizes a shared vision to advance Nepal's global economic presence through collaborative efforts in trade diplomacy, diaspora engagement, research, policy advocacy, and strategic promotion, according to the press release issued today.
Speaking on the occasion, Dr. Dhakal emphasized aligning diplomatic efforts with national development goals. She said that the "economy is vital to boost country's development" and proposed that Nepal's future lies in leveraging economic diplomacy as a core tool of international engagement. Introducing the term "Eco-politics," she added that the economy now leads politics in shaping global agendas. She also underscored the need to improve the marketability of Nepali products through enhanced quality control, adherence to global standards, and better promotion.and branding.
NCC President Agrawal echoed the importance of economic diplomacy, pointing out Nepal's vast potential in tourism, hydropower, IT, and natural resources. He pointed out that Nepal is already part of a global economic ecosystem that does not recognize political boundaries, urging stronger and more actionable engagement with the international community.
The MoU sets a five-year non-binding framework for cooperation, including the formation of a Joint Coordination Committee and a mid-term review within six months. The partnership aims to position Nepal as a stronger player in global trade and investment through coordinated diplomatic and private sector efforts.
The event also featured the exchange of publications-The Diplomat Nepal and an NCC journal-and a visit to the Raj Bahadur Memorial Hall in honor of NCC's founding legacy.
