OREANDA-NEWS. August 1, 2011. RF CCI President Sergei Katyrin met with the Nepalese governmental delegation led by Vice-Premier, Foreign Minister Upendra Yadav. A cooperation agreement between the RF CCI and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) was signed on the meeting sidelines.

Russian Ambassador to Nepal Sergei Velichkin and representatives of the RF CCI Department for Foreign Economic Cooperation took part in the meeting on behalf of Russia. FNCCI head Suraj Vaidya, Nepalese Ambassador to Russia Surya Kiran Gurung and representatives of the Nepalese Constituent Assembly, Foreign Ministry and FNCCI attended the meeting on behalf of Nepal.

In his brief speech the RF CCI President noted that Russia-Nepal contacts had recently intensified and created a real opportunity to upgrade economic relations. He singled out a number of cooperation areas the sides should concentrate on.

First and foremost, this is the information exchange between Russia and Nepalese chambers of commerce and industry without which efficient business contacts are impossible. Russia and Nepal have a broad network of chambers (more than 170 chambers in Russia and over 90 in Nepal) and their joint efforts can provide the quality and timely exchange of information.

It is also necessary to intensify the presentations of Russian and Nepalese enterprises in order to promote direct contacts between them. Bilateral trade is not large so far; in fact, it falls short the potential of both countries, and this formula may help find new promising areas of cooperation.

Finally, it is necessary to take active part in exhibitions and fairs, the RF CCI President said.

Sergei Katyrin noted that the cooperation agreement, which had been planned for signing, would certainly accelerate the aforesaid efforts.

President of the Federation of Nepalese Chambers of Commerce and Industry Suraj Vaidya said that the agreement would give a fresh impetus to bilateral relations and business contacts. Nepal needs investments and wants more active trade with Russia, he said, noting the traditionally friendly bilateral relations. Many projects in Nepal were fulfilled with the assistance of the former Soviet Union, among them the first hydropower plant of Nepal and a main motorway of the country. Suraj Vaidya proposed to set up a working group for the joint implementation of the agreement and the determination of the most promising areas and cooperation projects. The Russian side supported the proposal.

After that the cooperation agreement between the RF CCI and the FNCCI was signed.

Nepalese Vice-Premier, Foreign Minister Upendra Yadav made a comment on the event. He said that the agreement would intensify bilateral business contacts and invited Russian businessmen to invest in Nepalese hydropower sites, tourism, agriculture and education. Nepal also would like Russia to engage in oil and gas, uranium mining and railroad construction projects. In his opinion, the chambers of Russia and Nepal can now use better their potential for developing efficient economic contacts.