KATHMANDU: With the objective of promoting trade ties between Nepal and China, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and China Council for the Promotion of International Trade (CCPIT) today singed an memorandum of understanding (MoU).
Acting president of the FNCCI Binod Shrestha and vice presidnet of CCPIT, Liu Wenjie signed the MoU on behalf of their respective organisaitons.
According MoU, both the organisations would enocurage their respective members to take initiation for the promotion of trade and investment said the FNCCI press release.
Addressing the programme, Shrestha stressed the need for the expansion of bilateral trade relations between the two nations.
Explaining the competitive strength of China in relation to the World Trade Organisation (WTO), second vice president of the federation Rajendra Kumar Khetan said that the cheap labour in Nepal should be utilised in producing goods.
Khetan noted that joint efforts could explore adequte potentials to strengthen economy.
On the occasion Liu Wenjie vice president of the CCPIT said that he would take initiative to promote Chinese investment in Nepal.
Meanwhile, Liu Wenjue met with Padma Jyoti, president of the SAARC Chamer of Commerce and Industry (SCCI) and shared views about expansion of trade ties between two countries.