Nepal has huge investment opportunities for Pakistani businessmen in a number of sectors including readymade garments, education, pharmaceuticals, tourism and tea development. This was stated by the Nepalese ambassador Bala Bahadur Kanwar while speaking at the Lahore Chamber of Commerce & Industry (LCCI) on Friday.
LCCI Senior Vice President Ijaz A Mumtaz, Vice President Faisal Iqbal Sheikh, former Vice Presidents Sheikh Muhammad Arshad, Aftab Ahmad Vohra and Convenor Standing Committee on Foreign Missions Tariq Misbah also spoke on the occasion. The ambassador said that the investment in Nepal would not only enhance the volume of intra-regional trade and people to people contact but it would also help Nepal to eradicate poverty.
He said that Pakistani businessmen should avail incentives available to them in the shape of lowest taxes tariff and one-window operation being offered by the present Nepalese government. He also urged the LCCI Senior Vice President to bring a delegation of LCCI to Nepal so that they could have first-hand knowledge of the economic opportunities in Nepal as frequent visits are one of the tools to expand business ties.
He said that Nepal is ready to make special bilateral trading arrangements with Pakistan for the sake of economic well being of both the countries as Nepalese businessmen feel quite comfortable while dealing with their Pakistani counterparts. He said that fast changing global scenario demands from the business people to break the barriers and join hands for a better future of their respective people.
He said that at present the mutual trade ties between Pakistan and Nepal are negligible and the state of affairs asks for an increased frequency of reciprocal visits by the Pakistani and Nepalese business community. Speaking on the occasion, the LCCI Senior Vice President Ijaz A Mumtaz said that like other parts of the world, new business alliances are fast getting shape in this region for the sake of trade promotion.
He said Pakistan is an important player in South Asia therefore special emphasis should be put on economic co-operation between the two countries. He said that the main reason for not using the existing opportunities is lack of knowledge about each other and there is a need to work together in order to identify possible fields of co-operation and to provide proper information to the business communities of both the sides.
He said that macroeconomic stabilisation and rapid economic development have turned Pakistan into one of the most attractive locations in the world and it is high time for the foreign investors to avail this opportunity to the maximum. Apart from Chamber to Chamber linkages, equally important is the role of respective governments, he added.
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