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Nepal wants to boost trade ties with Pakistan, says envoy

Bureau Report 2017-05-16
PESHAWAR: Ambassador of Nepal to Pakistan Sewa Lamsal Adhikari has said that her country wants to further boost bilateral trade and economic relations with Pakistan.

Addressing a meeting at Sarhad Chamber of Commerce and Industry (SCCI) here on Monday, she said that both the countries should initiate serious efforts to improve the existing trade volume.

SCCI president Haji Mohammad Afzal, senior vice president Mohammad Iqbal, vice president Abidullah Khan Yousafzai, members of executive committee, Pak-Afghan Joint Chambers of Commerce and Industry senior vice president Ziaul Haq Sarhadi and former provincial president of Pakistan Flour Mills Association Malik Iftikhar Awan also attended the meeting.

Ms Adhikari said the existing trade volumebetween Pakistan and Nepal was negligible that could be enhanced by developing people to people contacts and exchange of business delegations.

`We are far behind to realise those areas where comparative advantages, competitive benefits and complementarities are high between Pakistan and Nepal,` said the envoy.

She said that export of various goods items from Pakistan was very limited. She added there were huge prospects for Nepalese tea, Pashmina products, woolen carpets, handicrafts, gold and silver, jewellery and others items.

The envoy said that Pakistani products such as leather, textiles, machinery, medicine and medical equipment, shoes and sandals, spices and dry fruits could be exported to Nepal.

She said that leather and textile products of Pakistan were popular in Nepal. `Pakistan and Nepal have tremendous potential forinvestment to strengthen mutual trade and economic relations,` she added.

Ms Adhikari said that her country was offering special incentives and tax exemption package to foreign investors. She urged Pakistani companies to make investment in Nepal and take full benefits from the incentive.

The diplomat said that hydropower was one of the most attractive and commercially rewarding sectors for investment in Nepal.

She added that availability of abundant snowfed water resources and the geographical features placed Nepal in a unique position in generating commercially lucrative hydropower.

Earlier, SCCI president Haji Mohammad Afzal appraised the Nepalese delegation about the potential areas of Khyber Pakhtunkhwa including hydropower generation along with export-oriented items like textile, leather, machinery medicines and others.