FNCCI President Dhakal highlights Nepal’s role as vital bridge between China and South Asia

KATHMANDU: President of the Federation of Nepalese Chambers of Commerce & Industry (FNCCI) Chandra Prasad Dhakal spotlighted Nepal’s pivotal position as a bridge between China and South Asia.

Addressing the 16th China-South Asia Business Forum being held in Kunming, China, President Dhakal stressed the need for building connections and explore avenues for greater cooperation between China and the vibrant South Asian region.

Nepal is the rotating president of China South Asia Business Forum this year.

Reflecting on the journey of the China-South Asia Business Forum since its inception in 2004, Dhakal highlighted its transformative evolution into a cornerstone of high-level cooperation. Throughout its 15 editions, the Forum has been instrumental in fostering regional synergy and nurturing a collective vision for the prosperous future of the region.

In his address, Dhakal emphasized the paramount importance of unity and interdependence in navigating the intricacies of today’s global landscape. He stressed that collaboration, grounded in shared economic benefits and mutual growth, is the key to surmounting the challenges posed by an ever-evolving environment.

Central to the collective agenda, Dhakal advocated for the exploration of fresh avenues for investment, the invigoration of tourism, the augmentation of trade, and the fortification of industrial value chains.

As uncertainties loom on the global economic horizon, he underscored the necessity of devising robust strategies that can shield against potential shocks, ranging from conflicts and climate change to pandemics and supply chain disruptions.
While acknowledging the substantial market potential within the South Asian region, Dhakal acknowledged the existing impediments of inadequate connectivity, logistical infrastructure, and trade facilitation that have hindered its economic growth.

He called upon the collective effort to harness South Asia’s demographic dividend and abundant natural resources, catering to a population of over 1.7 billion people.

Dhakal put forth a compelling proposition for elevating intra-regional investment flows and trade within SAARC nations and China.

He underscored the importance of leveraging China’s unrivaled trade facilitation, cutting-edge logistics, transformative connectivity projects, advanced technology, investment initiatives, and burgeoning digital economy to unlock South Asia’s immense consumer market potential.

The focus, as delineated by Dhakal, should be on establishing seamless interlocking of supply and industrial chains.
This would be facilitated by integrating China’s unparalleled expertise, technology, and investment prowess across critical sectors, including agriculture, agribusiness, tourism, renewable energy, mining, infrastructure development, ICT, herbal and pharmaceuticals, among others.

In reaffirming FNCCI’s unwavering commitment to fostering economic engagement between South Asia and China, Dhakal extended a warm invitation to business and investment stakeholders from both China and South Asia to explore the abundant opportunities awaiting in Nepal.

Dhakal elucidated three compelling reasons for foreign investors to consider Nepal as an attractive investment destination: the remarkable growth of Nepal’s middle-class population, good profits made by multinational companies operating in Nepal and Nepal’s duty-free access in prominent markets such as India, China, the EU, and other developed nations.
Dhakal’s address resounded with a resolute belief that the China-South Asia Business Forum serves as a dynamic conduit for deepening economic relations between China, South Asia, and Nepal, nurturing essential bonds between business entities and governmental bodies.

As a testament to Nepal’s pivotal role in the event, the country assumed the spotlight as the Theme Country at this year’s China South Asia Expo.

Dhakal conveyed his earnest wishes for the resounding success of the 16th China-South Asia Business Forum. With collaborative strides, the Forum endeavors to carve a premier global business landscape that propels regional progress to unprecedented heights.

The 16th China-South Asia Business Forum continues to stand as a testament to the collective vision of fostering robust collaboration, unlocking synergies, and capitalizing on opportunities that hold the potential to transform Nepal into an instrumental bridge between China and the vibrant South Asian region.