Nepal's business community is extending its arms to Russia, seeking to attract more investment from the Eurasian nation. Discussions held on Wednesday between the Confederation of Nepal Industry (CNI) and visiting Russian business organizations indicate a growing interest in collaboration.
CNI president Rajesh Kumar Agarwal made a compelling case for Nepal's potential, highlighting its strategic location nestled between the world's two largest economies, China and India. He emphasized the fertile ground Nepal offers for foreign investment opportunities.
Sergei Katerin, the head of the Russian delegation and president of the Federation of Russian Industry and Commerce, echoed this sentiment. Recognizing the crucial role of a strong private sector in national development, Katerin expressed Russia's openness to investing in Nepal and collaborating with CNI on significant projects.
These discussions materialized into a signed Memorandum of Understanding (MoU) between CNI and two prominent Russian business organizations: the Federation of Russian Industry and Commerce, and the St. Petersburg Chamber of Commerce and Industry. The MoU, signed by the respective presidents, signifies a commitment to explore and pursue areas of mutual economic interest.
This development marks a significant step forward in strengthening business ties between Nepal and Russia. The MoU paves the way for potential joint ventures, increased Russian investment in Nepal, and a framework for collaboration that will benefit businesses from both nations.
