Sharjah Chamber Seeks To Boost Trade And Investment Ties With Nepal

The Sharjah Chamber of Commerce and Industry (SCCI) recently explored ways to boost trade and investment ties between Sharjah's business community and Nepal. The discussions underscored the UAE's commitment to diversifying investments and highlighted potential strategic partnerships with Nepali companies, leveraging the strong bilateral relations to unlock new commercial opportunities.

During a meeting between Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of SCCI, and Tej Bahadur, Nepal's Ambassador to the UAE, the possibility of signing a Memorandum of Understanding (MoU) was discussed. This MoU aims to strengthen trade ties by increasing exports in sectors such as trade, handicrafts, gold, and agriculture. It is also expected to enhance food security and promote sustainable development in both countries.

Sheikh Majid Al Qasemi highlighted the steady growth in economic relations between the UAE and Nepal. He noted that the UAE is a significant non-oil trade partner for Nepal. He emphasised the importance of reciprocal visits to deepen cooperation between their private sectors while exploring new opportunities in food security, tourism ventures, and renewable energy investments.

Mohammad Ahmed Amin Al Awadi, Director-General of SCCI, stressed Sharjah's competitive investment advantages. He cited the emirate's attractive business environment and innovative facilities provided by SCCI. These services are designed to help investors expand their economic activities and create a supportive framework for business growth and prosperity.

Al Awadi also encouraged Nepali companies to participate in events like the Watch and Jewellery Middle East Show and ExpoCulinaire. Both events are hosted annually by Expo Centre Sharjah, offering valuable platforms for showcasing products and networking with industry leaders.

The meeting underscored the robust ties between the two countries' private sectors. By fostering deeper cooperation through strategic partnerships, both nations aim to unlock new commercial possibilities that benefit their economies.

The discussions also focused on leveraging these strong bilateral relations to explore new areas of collaboration. This includes enhancing food security initiatives, promoting sustainable development projects, and investing in renewable energy sources.

The potential signing of an MoU represents a significant step towards achieving shared economic interests. By increasing exports across various sectors, both countries can bolster their economies while addressing critical issues like food security.

The UAE businesses' commitment to diversifying their investments was a key theme throughout the discussions. This commitment is expected to drive further growth in trade relations with Nepal, opening up new avenues for collaboration at the private sector level.

The emphasis on reciprocal visits highlights the importance of face-to-face interactions in building stronger business relationships. These visits provide opportunities for both sides to explore new ventures and deepen existing partnerships.

Overall, the meeting between SCCI and Nepal's Ambassador marks a positive step towards enhancing trade and investment cooperation. By focusing on strategic partnerships and leveraging existing ties, both nations can look forward to unlocking new commercial opportunities that benefit their economies.

With inputs from WAM