KATHMANDU, SEPTEMBER 22

"The Focus Group Discussion on Embracing Nepal's Post-LDC Era for Thai Economic Opportunities was nothing short of a success," said Suwapong Sirisorn, Ambassador of Thailand to Nepal, Reflecting on the Focus Group Discussion to the Himalayan Times.

"I am deeply pleased with how the event unfolded, particularly the level of engagement and quality of insights shared by participants. The dialogue was truly vibrant, bringing together Thai and Nepali stakeholders who recognised the vast opportunities that Nepal's upcoming graduation from the Least Developed Country (LDC) category presents."

According to him, one of the most significant takeaways was the strong alignment between the two nations on how to move forward in several key sectors. There is a clear understanding of participants that collaboration is crucial in sectors such as tourism, IT services, clean energy, and agro-processing-areas that offer tremendous promise for both Nepal and Thailand. These discussions have set the foundation for deeper economic cooperation that will, no doubt, benefit both nations for years to come.

"One particularly exciting outcome of the event was the connection made between a leading blockchain company from Thailand and a fintech firm in Nepal," he said. "Despite the legal constraints on cryptocurrency in Nepal, there is a growing openness within the government to regulate blockchain technology."

This connection may also open up new opportunities for technological collaboration. Bhat Bhateni, Nepal's largest supermarket chain, has expressed an interest in directly importing Thai products. "By forming a direct partnership, we could see a substantial increase in Thai products in Nepal's markets, meeting the rising demand," he added.

Furthermore, as Nepal approaches its LDC graduation, there are several promising areas where Thailand and Nepal can collaborate for mutual benefit, according to him.

"Tourism stands out as an area with immense potential, particularly due to our shared cultural and religious heritage. Thailand's well-established tourism infrastructure can be leveraged to further develop Nepal's tourism industry, particularly religious tourism to Buddhist sites such as Lumbini."

Similarly, the IT sector is another space ripe for collaboration. With Thailand's expertise in technology and Nepal's growing pool of tech talent, there are significant opportunities for partnerships that could drive innovation and growth in both countries. "Thailand can play a role in nurturing Nepal's emerging IT ecosystem, particularly through knowledge-sharing and strategic investments," he stated.

He also emphasised that clean energy, specifically hydropower, is also a crucial area for Thai investment. As Nepal works toward its sustainable development goals, there is great potential for Thailand to support the country's transition to renewable energy.

Agro-processing, a sector where Thailand has developed considerable expertise, presents another exciting area of cooperation. "Thailand's experience in agro-processing technology and food security initiatives can be extremely valuable for Nepal as it seeks to enhance its agricultural output and processing capabilities. By sharing knowledge and expertise in this sector, Thailand can help Nepal improve its supply chain, add value to its agricultural products, and better position itself in the regional and global markets," he added.

He also said the discussions during the event provided a platform for both countries to deepen their understanding of each other's economic landscapes, challenges, and opportunities. This understanding is crucial as it lays the groundwork for a more robust and comprehensive partnership.

"By identifying areas where Thailand and Nepal can collaborate-such as trade, investment, and sustainable development-we are paving the way for stronger bilateral ties," he told THT. "The insights gained will allow us to craft policies and initiatives that are mutually beneficial, ensuring that the relationship between our countries continues to grow in a positive direction."

However, the momentum generated during the discussions must now be transformed into tangible action. "Our immediate focus will be on collaborating closely with Thai and Nepali stakeholders to explore the projects and investment opportunities discussed," he said. "This may involve setting up joint working groups to dive deeper into specific sectors and initiating policy dialogues to overcome barriers to trade and investment."

Follow-up meetings will be essential for maintaining the event's enthusiasm and energy. It is critical that we continue the conversation and turn the ideas shared into practical solutions that benefit both countries. "Building on the progress made during the discussion, we can ensure that the opportunities presented by Nepal's LDC graduation are fully realised, resulting in a prosperous future for both Thailand and Nepal," he remarked.

"To summarise, the Focus Group Discussion was a significant step towards shaping the future of Thai-Nepali relations. I am excited to continue this journey of collaboration and growth as we work together to unlock the full potential of our partnership," he said.