The 10th Annual General Meeting (AGM) of the Nepal-France Chamber of Commerce & Industry (NFCCI) concluded in the capital on Sunday electing a new executive committee.

A press release issued by the NFCCI said Shyam Mohan Shrestha was elected to the post of president, while Ramesh Khetan the vice-president.

Kailash Bahadur Shrestha and Rajan Amatya were elected for the posts of general secretary and treasurer respectively.

NFCCI is a body of Nepalese businessmen and industrialists having some business links or have business plans with France.

The statement further said, “NFCCI has been working continuously in the past with the aim of achieving larger exchange of trade and industry between France and Nepal.”

Nepal has trade deficit with France but gradually the deficit has been narrowing in last few years.

The export from Nepal to France has been mostly carpets, readymade garments and handicraft including substantial amount of Nepali paper. The import from France to Nepal has been in large number electrical, mechanical equipment and aircraft spare parts.

Meanwhile, a reception was hosted by French Ambassador to Nepal Michel Jolivet in honor of the new executive committee at his residence in the evening.

Newly elected president Shyam Mohan Shrestha (File Photo)

Newly elected president Shyam Mohan Shrestha (File Photo)
During the reception, newly elected president Shyam Mohan Shrestha talked about the trade between France and Nepal. He said though political instability for the last 6/7 years has affected the economy of the country, the exports to France have increased the last three years while the trade deficit has narrowed.

He cited a 5 crore deficit on exports worth 61.7 crore to France and imports worth 66.8 from France for the year 04/05.