Nepal, Qatar hold business council meeting

By A Staff Reporter,Kathmandu, Feb. 12: The first meeting of the Nepal-Qatar Joint Business Council (JBC), established to institutionally advance bilateral trade and investment between Nepal and Qatar, has concluded in Kathmandu. 

The meeting held in Chandragiri is expected to take economic cooperation between the two countries to new heights.

The agreement to establish the Joint Business Council was signed in April 2024 during the visit of His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of Qatar, to Nepal. 

The JBC serves as a structured platform to promote dialogue, business collaboration, and direct engagement between the private sectors of Nepal and Qatar.

During the meeting, private sector representatives from both countries held in-depth discussions on investment promotion, trade expansion, business-to-business (B2B) collaboration, and government-to-government (G2G) coordination. 

Participants expressed their commitment to making the economic relationship between Nepal and Qatar long-term and result-oriented.

The Nepali side highlighted the government's emphasis on legal reforms to improve the investment-friendly environment, simplifying approval processes through digital systems, and promoting Public-Private Partnerships (PPP). 

They urged Qatari investment in diverse sectors including energy, minerals, health, education, tourism, agro-processing, and information technology. 

Additionally, the Nepali team expressed readiness to facilitate Qatari investments and urged Nepali entrepreneurs to explore opportunities in Qatar’s service sector, tourism-related industries, skill development, and small and medium enterprises (SMEs), emphasizing the potential for joint ventures.

Similarly, the Qatari delegation expressed a positive outlook on Nepal's investment climate and showed interest in expanding direct cooperation and business exchanges. 

They remarked that Nepal is truly beautiful and emphasized that cooperation is viable given the significant investment potential across many sectors.

Speaking at the meeting, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the meeting would further strengthen Nepal–Qatar economic ties and contribute to increasing trade and investment. 

As the largest umbrella organisation of Nepal's private sector, he said that the FNCCI is committed to facilitating foreign investment, strengthening institutional cooperation, and promoting B2B contacts.

He invited the leadership of the Qatar Chamber of Commerce and Industry to the Federation's upcoming Annual General Meeting, describing it as an effective platform for direct dialogue with policymakers and business leaders.

Senior Vice President of FNCCI Anjan Shrestha emphasised that the JBC should not be limited to formalities but must be practical and result-oriented. 

"There is a shared understanding that the JBC must be a platform that delivers tangible results. It can and should be an effective medium for project identification, problem-solving, and developing commercially beneficial partnerships for both sides," he said.

Mohamed Bin Ahmed Al-Obaidly, Board Member of the Qatar Chamber of Commerce and Industry and head of the delegation, mentioned that Qatari investors are ready for long-term investment if there are stable policies, clear legal structures, and banking facilitation in Nepal. 

He said that they would initiate Qatari investments once concrete areas for cooperation are identified and stressed the need to make the JBC’s role more effective.

Bharat Raj Acharya, Treasurer of FNCCI, stated that the JBC should be developed as an active bridge for long-term economic cooperation. 

He said that recent high-level bilateral meetings have created a positive environment for increasing private sector participation.

During their visit, the Qatari delegation also held meetings with Finance Minister Rameshore Prasad Khanal, Foreign Minister Balananda Sharma, Minister for Industry, Commerce and Supplies and Culture, Tourism and Civil Aviation Anil Kumar Sinha, Governor of Nepal Rastra Bank Dr. Biswo Nath Poudel, and the Director General of the Civil Aviation Authority of Nepal, Deo Chandra Lal Karna.

Discussions focused on bilateral investment promotion, trade expansion, G2G and B2B cooperation, and air connectivity.

The JBC meeting is expected to institutionalize economic cooperation and strengthen trade, investment, and direct private sector partnerships between Nepal and Qatar in the coming days.