Nepal wants to establish reasonable business and economic ties with Pakistan, expressed Ambassador of Nepal, Bala Bahadur Kunwar, on the eve of a meeting held within the Faisalabad Chamber of Commerce and Industry. Both nations should take steps for mutual confidence-building, he added.
While bringing the business community of Faisalabad into confidence, he said, that there was no risk involved in investing in Nepal. It was also a pleasant fact that Nepal and Pakistan were close to each other politically, culturally and linguistically.
While referring to the good political relations between Nepal and Pakistan, the Deputy Chief of the Mission, K.N. Adhi Kari, said that there was a dire need to develop trade and economic relations between the two countries.
Talking about the SAARC countries, he told the audience that, in the last year, the trade volume between Nepal and Pakistan remained at 1.94%, which was too low as compared with other countries of the SAARC.
While addressing the audience Mian Hamid Javed, President, FCCI, said that despite an extensive 1982 trade agreement, the volume of bilateral trade remained comparatively small at USD 4.8 million. Pakistan's total exports to Nepal were worth USD 1.631 million, while Nepal's exports to Pakistan were USD 3.166 million. Both countries had recently, stepped up efforts to promote bilateral trade, especially in textiles, oilseeds, extraction of oil and tourism.
He further added that Pak-Nepal bilateral relations were based on the principles of sovereign equality and non-interference in each other's internal affairs. These relations would always flourish in times to come. At the end of meeting, the FCCI Shields were presented to Bala Bahadur Kunwar, the Ambassador of Nepal and K.N. Adhi Kari, the Deputy Chief of the Mission.
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