NCC urges new Indian ambassador Sharma to facilitate trade, investment

KATHMANDU: Nepal Chamber of Commerce (NCC) office bearers met with the newly appointed Ambassador to India, Shankar Prasad Sharma, at Chamber Bhawan in Jamal on Tuesday.

During the meeting, the NCC called on Ambassador Sharma to enhance Nepal-India trade and investment relations. NCC President Kamlesh Kumar Agrawal pointed out that despite Nepal's adoption of a free and open trade policy with India, the country has not yet reaped practical benefits. He highlighted that while imports from India face no issues, exports encounter customs bottlenecks. The NCC suggested that Ambassador Sharma work to reduce the trade deficit with India by attracting tourists and investors. Agrawal underscored the importance of drawing Indian investment into Nepal's hydroelectricity and service sectors to help mitigate the rising trade deficit.

President Agrawal also urged the ambassador to take initiatives to improve railway transportation and to establish an international standard quarantine laboratory at customs to facilitate trade. He stated that the lack of a high-level quarantine lab at customs prevents the proper assessment of the quality of goods imported from and exported to India.

"Export facilitation should be implemented in a way that yields long-term trade benefits," said President Agrawal, adding that initiatives should be undertaken for the efficient operation of railways and waterways.

NCC officials also requested that transit processes be streamlined, as prolonged container halts lead to increased costs for Nepali goods.

In response, Ambassador Sharma expressed his commitment to prioritising trade deficit reduction and export facilitation. He pledged to take the initiative in establishing a quarantine laboratory and to foster investment by enhancing cooperation between the private sectors of Nepal and India.