Kathmandu: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has engaged in discussions with international organisations regarding investment expansion and market access for small countries like Nepal in the evolving economic landscape.
During separate meetings held on the occasion of the 113th International Labour Conference in Geneva, Switzerland, with Roberto Suárez Santos, Secretary-General of the International Organisation of Employers (IOE), and Zhang Xiangchen, Deputy Director-General of the World Trade Organisation (WTO), Dhakal shared his views on Nepal’s investment potential, collaboration with both organisations, and Nepal’s expectations.
In his meeting with IOE Secretary-General Roberto Suárez Santos, FNCCI President Dhakal highlighted the immediate need for investment to overcome development challenges. He expressed the view that strengthening connections with international partners and exchanging cooperation can help bring best practices utilised in this sector to Nepal.
Dhakal urged Secretary-General Roberto Suárez Santos to help spread the message to the international community that significant investment opportunities are available in Nepal in sectors such as tourism, hydropower and information and communication technology.
“Nepal has ample investment potential. Located between two giant economies like India and China, Nepal is an ideal location for production and export to a market of 3 billion people. Therefore, I urge international investors to invest in Nepal,” he stated. Dhakal expressed gratitude for the continuous support provided by IOE through policy dialogue, social dialogue and institutional capacity building.
He noted that collaboration with IOE has provided Nepali employers with opportunities to present their views on global platforms and has increased access to training and research.
Speaking on the occasion, IOE Secretary-General Roberto Suárez Santos noted that FNCCI is an old and active member of IOE and praised the FNCCI’s role and cooperation at the international level. He stated that IOE is always ready for further support and cooperation in the coming days.
Similarly, during the conference, FNCCI President Dhakal also held a separate meeting with Zhang Xiangchen, Deputy Director-General of the World Trade Organisation. In this meeting, he discussed some structural challenges Nepal faces in the international trading system.
Dhakal welcomed the WTO’s decision to maintain duty-free and quota-free access during the interim period, in the context of Nepal’s process of graduating from the Least Developed Country (LDC) status by 2026. However, he made a special request to the WTO to provide technical assistance based on technology, knowledge and resources to enable Nepal to meet international standards, and flexibility for implementing treaties.
“While LDC graduation is a matter of national pride, there is a possibility that small and medium-sized enterprises will be particularly affected by the loss of benefits such as duty-free and quota-free market access. Therefore, I urge IOE to advocate for a fair and supportive transition on behalf of Nepal in international forums, including the International Labour Organisation and the United Nationn” Dhakal said.
He stated that excessive subsidies provided by developed nations in the agricultural sector put Nepali farmers at a disadvantage in terms of competition.
He also mentioned that Nepali small producers are finding it difficult to meet the high standards outlined in the Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) agreements under the WTO. “Complex customs procedures, import permits and non-tariff barriers like quotas are still hindering our exports,” Dhakal added.
Dhakal also pointed out the need for further support, stating that tariff reductions made in accordance with WTO commitments have reduced government revenue, making it difficult to invest in basic infrastructure, health and education.
On the occasion of the meeting, Zhang Xiangchen, Deputy Director-General of the WTO, stated that the WTO will continue to support Nepal’s economic development, promotion of international trade, and capacity building.
Also present at the meeting were Jyotsana Shrestha, Vice President of FNCCI and Chairperson of the Employers’ Council, and Babu Kaji Karki, Co- chairperson.