Nepalese Ambassador to Pakistan Tapas Adhikari has said that both Pakistan and Nepal have great potential to cooperate with each other in various sectors of the economy.

The bilateral relations between the two countries have always been excellent, he said in a meeting with Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh.

Nepal and Pakistan are members of SAARC and have similar cultural and social backgrounds, he said, adding that Pakistan is one of the most important countries for Nepal to promote regional trade, especially from the perspective of the SAARC regime.

Tapas Adhikari said that logistic issues, lack of communication, and proper marketing are some of the main hurdles in boosting bilateral trade. He stressed the need for exchanging business delegations to enhance trade and promotion, and investment opportunities between the two sides.

Pakistan and Nepal are SAARC members and have cordial relations. The ambassador emphasised the need for a well-planned strategy for ensuring regional peace through fostering trade and economic ties among the SAARC countries, the envoy said.

Speaking on the occasion, the FPCCI president expressed the need for further enhancing bilateral trade and investment between Pakistan and Nepal for the mutual benefit of both countries.

Nepal, a land-locked country between China and India, can understand the importance of regional trade better than others, he said. 

Nepal is an import-oriented economy whose imports are far greater than exports, he said. In the year 2021, Pakistan’s exports to Nepal were $4.7 million while the imports from Nepal to Pakistan were $2.6 million, he said, adding that despite huge trade potential, the trade volume between the two countries is very low - $7.3 million.

Credit : Independent News Pakistan-WealthPk