FNCCI for stronger trade ties with Turkey

- SANJEEV GIRI, Istanbul
FNCCI for stronger trade ties with Turkey

Jun 19, 2014-

The President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Pradeep Jung Pandey, on Thursday stressed on the need to establish a permanent mission in Nepal and Turkey for furthering the bilateral trade between the two nations.

Addressing an interaction programme organised by the Turkey-Nepal Business Council here, Pandey said despite sharing the diplomatic ties since 1962 the two countries have been unable to achieve much on the economic front.

“There is a huge potential to promote trade and investment between the two countries. Yet the trade volume between Nepal and Turkey remains less than $20 million, which is below one percent of Nepal’s total foreign trade,” Pandey noted Calling for enhancing business contacts between the two countries, Pandey said the FNCCI had formed Nepal-Turkey Business Council for the purpose.

Akhil Chapagain, the president of Nepal-Turkey Business Council, referred to several sectors where Turkish investors could invest in Nepal. “There are several possibilities in Nepal which have largely remained untapped. The hydropower sector is one of them,” said Chapagain, explaining about Nepal’s adoption of foreign investment-friendly policy.

Speaking on the occasion, President of Turkey-Nepal Business Council Cigdem Penn said the trade relationship between the two nations is at nascent stage but it has an immense possibility for growth. A number of noted Turkish investors had enquired about the access to banking, investment security and potential in sectors such as hydropower, tourism, infrastructure development and service, among others.

Earlier, the Nepali trade delegation had signed 10 trade deals on the final day of Tuskon Turkie World Trade Bridge 2014 on Wednesday.

Published: 20-06-2014 09:17

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