IRGDD-NCC join hands to boost Nepal's economy through economic diplomacy

By TRN Online, Kathmandu, July 1: A Memorandum of Understanding (MoU) has been signed between the International Relations and Global Diplomacy Dialogue (IRGDD) and Nepal Chamber of Commerce (NCC) today to advance Nepal’s global economic presence through collaborative efforts in trade diplomacy, diaspora engagement, research, policy advocacy, and strategic promotion.

The signing ceremony took place during NCC’s Diamond Jubilee Celebration, marking 75 years of its contribution to Nepal’s private sector development.

According to the Press Release, the MoU was signed by President of IRGDD Dr. Sarmila Parajuli Dhakal and NCC President Kamlesh Kumar Agrawal, during a formal ceremony attended by representatives from both institutions and dignitaries. The agreement formalizes a shared vision to advance Nepal’s global economic presence through collaborative efforts in trade diplomacy, diaspora engagement, research, policy advocacy, and strategic promotion.

IRGDD is a diplomatic and development platform committed to promoting economic diplomacy, peace, and inclusive partnerships for Nepal and other small states.

Through its mission, IRGDD aims to amplify Nepal’s global voice while contributing to local economic development by advocating for women, artisans, youth, and SMEs for the better economic future.

NCC is one of Nepal’s oldest and most respected private sector institutions, dedicated to advancing national economic growth, business innovation, and international trade.

The signing event featured the ceremonial exchange of The Diplomat Nepal magazine and the NCC publication, along with a visit to the Raj Bahadur Memorial Hall, paying tribute to NCC’s founding legacy.

In her keynote remarks, Dr. Dhakal emphasized the importance of aligning diplomacy with national economic objectives. She said that the “economy is vital to boost country's development" and proposed that Nepal’s future lies in leveraging economic diplomacy as a core tool of international engagement. Introducing the term “Eco-politics,” she added that the economy now leads politics in shaping global agendas. She also underscored the need to improve the marketability of Nepali products through enhanced quality control, adherence to global standards, and better promotion.

NCC President Mr. Agrawal echoed this vision, highlighting Nepal’s untapped economic potential in sectors like tourism, IT, hydropower, and natural resources. He pointed out that Nepal is already part of a global economic ecosystem that does not recognize political boundaries, urging stronger and more actionable engagement with the international community.

The MoU outlines a five-year non-binding partnership focused on strengthening Nepal’s role in global trade and investment networks. It calls for the formation of a Joint Coordination Committee to oversee progress and conduct a mid-term review within six months. This partnership reflects a broader national commitment to contribute meaningfully to Nepal’s growth through coordinated diplomatic and private sector engagement.