Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: In a significant step toward strengthening economic ties, the Nepal-India Chamber of Commerce and Industry (NICCI) and the Federation of Indian Chambers of Commerce and Industry (FICCI) have signed a Memorandum of Understanding (MoU) to jointly promote trade, investment, and cross-border commerce. The agreement was formalized in New Delhi by NICCI President Sunil KC and FICCI Director General Jyoti Bij.
Under the MoU, both organizations will facilitate the exchange of business delegations, share non-confidential information, and organize joint promotional events. NICCI will serve as FICCI’s exclusive partner in Nepal, while FICCI will be NICCI’s preferred partner in India. The agreement also includes regular exchanges of trade and investment-related publications and data.
“We will organize at least one major joint event annually and support the exchange of business delegations between Nepal and India,” said NICCI President KC. “Our partnership will encompass joint studies, market surveys, and the exchange of publications to identify new areas of economic growth and mutual interest.”
FICCI Director General Jyoti Bij emphasized the shared responsibility to bolster economic relations. “As leading business organizations in our respective countries, we are committed to strengthening trade and investment ties between India and Nepal,” she said.
Headquartered in New Delhi, FICCI represents over 250,000 companies from both public and private sectors, playing a pivotal role in policy reforms, economic growth, innovation, and investment promotion. This MoU formalizes the longstanding economic interdependence between the two South Asian neighbors.
Both organizations have pledged to address challenges in cross-border trade and explore new opportunities through close collaboration. NICCI members will gain access to FICCI’s extensive resources and network to expand Nepal’s trade and economy.
The agreement also extends cooperation to regional frameworks like BBIN (Bangladesh, Bhutan, India, Nepal) and BIMSTEC. “We are launching the NICCI-FICCI Track 1.5 initiative, involving representatives from both organizations and governments,” KC added. “This initiative will promote investment and address Nepal’s growing investment aspirations.”
This partnership is expected to enhance economic collaboration, streamline cross-border trade, and unlock new avenues for growth, reinforcing Nepal and India’s commitment to mutual prosperity.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
