Kathmandu, Apr. 6:Mr Rajeswore Acharya, Royal Nepalese Ambassador to the People’s Republic of China has stressed the need to further expand cordial and friendly relations subsisting between Nepal and China in the economic development sector.

Talking to rss, Mr Acharya said that the very cordial relations existing between the two countries in the political sector had to be expanded in the areas of bilateral trade and joint investment sectors.

There is possibilities for joint investment in the fields of water resources, tourism, agro-industries and production of construction materials, he said.

The Royal Nepalese Ambassador that as the trade treaty signed between Nepal and India allows free entry of Nepalese goods into India, it would help to increase joint investments.

In the context of the vast water resources potentials in Nepal and the growing demand for electricity in India, Mr Acharya said there is a great possibility for joint investment in the hydro-electricity sector.

He also referred to the possibilities for joint investment for the development of Lumbini, the birthplace of Lord Gautam Buddha as well as close religious and cultural sectors.

Mr Acharya said that the Royal Nepalese Embassies should be provided necessary resources and manpower as well as information relating to policies and regulations to enhance investment in accordance with the concept of economic diplomacy, and the administrative machinery made more efficient.

Stating that he had been making all possible efforts in this connection, Mr Acharya said that contacts are being maintained with the academic and the business community in China.

Stating that the Rasuwa-Kerung road can be built for expansion of bilateral cooperation between the two countries, Mr Acharya said that efforts are being made to install the statues of Lord Buddha and Arniko on the premises of the Royal Nepalese Embassy in Beijing as Buddhism and Arniko have played an important role in the promotion of relations between Nepal and China.

The Royal Nepalese Ambassador said that efforts are being made to establish B.P.-Chou En Lai Foundation and increase contacts between the people of the two countries for promotion of bilateral friendship.

Stating that goods like carpets, handicrafts, gold and silver jewelry could be exported to the China, Mr Acharya said that the government and the private sector should give attention towards promoting Nepalese goods at the trade fair to be organised in Beijing.