Business bodies of Nepal, Armenia ink cooperation deal

By A Staff Reporter,Kathmandu, May 17: Nepal Chamber of Commerce (NCC) and Chamber of Commerce and Industry of the Republic of Armenia have signed an agreement to cooperate in the economic and information technology sectors. 

Pankaj Jalan, executive member of the NCC, and Andranik Aleksanyan, executive director of the Armenia Chamber of Commerce and Industry, signed an Memorandum of Understanding amidst a function held in Kathmandu on Thursday.

The cooperation agreement has been signed between the Chambers of the two countries on eight different issues, including trade facilitation, and expansion of economic and technical relations.

According to a press statement issued by the NCC, both institutions will cooperate to find domestic and third-country markets for the products produced in the joint venture.

Jalan said that there was also an agreement for investment in Nepal's agriculture and tourism sectors.

Similarly, it has been agreed to facilitate exchange visits of the representatives of the industry and commerce sectors of Nepal and Armenia. 

It has also been agreed between the chambers of both countries to exchange research in the field of foreign trade and industrial production.

The NCC said that the agreement reached between Nepal and Armenia in the economic and commercial fields would come into effect immediately. 

The diplomatic relations between Nepal and Armenia were established in March 1993.