Kathmandu, April 5: Prime Minister Girija Prasad Koirala inaugurated Export Promotion Meeting 2000 jointly organised by Ministry of Commerce and Federation of Nepalese Chamber of Commerce and Industry (FNCCI) here this morning.

According to the organisers, the meeting aims at acquainting the international business community with Nepal’s policies and strategies for the promotion of Nepalese exports and tourism in the world market and to attract foreign investment in the country’s socio-economic development. “The meeting will also provide first hand information to all on opportunities and prospects of investment in different sectors of economy, including tourism, hydropower projects, computer software, and medicinal herbs,” they said.

More than 400 delegates, half of which representing Nepal’s government and non-governmental organisations, from 33 different countries across the world are taking part in the three-day meeting, which was organised in conjunction with yesterday’s Nepal Trade Fair 2000.

In his inaugural speech, Prime Minister Koirala said that the main objective of the meeting was to achieve a better understanding amongst the participants of the opportunities available for trade and investment potentials in Nepal. “Such meetings will further promote the understanding between the participants and will contribute to widen the trade and investment prospects in Nepal.”

Showing a bright picture of Nepal’s economy, Koirala said that the government had been promoting investment through a variety of fiscal and non-fiscal incentives for local and foreign investors. “In addition to selected manufacturing and service industries, tourism and water resources are the prominent areas of foreign investment in Nepal.”

RSS adds: Stating that Nepal’s economy had undergone considerable changes in the last nine years, Prime Minister Koirala referred to the important progress made by the country in achieving and maintaining macro-economic stability and removal of the major restrictions that impeded the development of trade and industry.

Nepal’s economy was already quite liberal with almost no barriers to international trade, a fairly open foreign investment regime and deregulated interest rates and the inflation rate had also been brought down to low level, he added.

Referring to tourism and water as the prominent areas for foreign investment apart from selected manufacturing and service industries, Prime Minister Koirala noted that Nepal could contribute significantly to the growing demand for power prompted by the surge of industrial, economic and population growth in South Asia.

“Nepal has the world’s highest mountains, famous pilgrimage sites like Lumbini, the birthplace of Lord Buddha, and a number of other attraction,” he noted, adding that the government had adopted the “open sky” policy to attract more investment in the aviation sector.

These reforms had made Nepal a much better place for trade and investment compared with our South Asian partners, he added.

The award winners are Paramount Carpet Industries, Momento Apparels P. Ltd., Narayani Leather Manufacturing Industries, Triveni Dal and Oil Industries P. Ltd., New Himalaya Akash Exports, Aseatic Traders and Exporters and Dabur Nepal P. Ltd.

Welcoming the guests and participants earlier, Commerce Minister Ram Krishna Tamrakar informed that the Ministry would soon establish Economic Information Centre to disseminate Nepal’s policies and strategies on the promotion of exports, tourism and investment.

He expressed the hope that the meeting would enhance Nepal’s tourism sector and help attract more economic activities in the country.

Referring to the giant neighbours India and China as world’s two largest markets, Minister Tamrakar said that investment in Nepal had bright prospects.

President of the Federation of Nepalese Chambers of Commerce and Industry Pradeep Kumar Shrestha said Nepal was quite aware of the fact that the success in bringing prosperity to the people of the country would depend on the ability to successfully participate in the global economy and for this purpose, market products and services should be provided as per the demand of the world market.