"The Guangdong Chamber of Commerce in Nepal has promoted cooperation in areas such as new energy vehicles, culture, and tourism. In 2023, Guangzhou Automobile Group (GAC) and Nepalese enterprises signed a cooperation agreement, which plans to introduce new energy vehicle models in Nepal," said Cui Shuang, Vice President of China Council for the Promotion of International Trade (CCPIT) Guangdong Committee and Guangdong Chamber of International Commerce.
Cui attended the China (Guangdong)-Nepal Investment Promotion Seminar, which was recently held in Guangzhou.
More than 100 participants attended the seminar, including government officials of Guangdong, entrepreneurs in Guangzhou, representatives of Guangdong's business associations, and representatives of Nepalese business associations.
Cui said Guangdong is China's largest province in terms of economy and foreign trade. "It's important to have economic and trade exchanges with Nepal. We support Guangdong's enterprises in exploring the Nepalese market. They can be a bridge for further exchanges of information and resources between the two sides."
According to Cui, in October 2018, CCPIT Guangdong Committee promoted the establishment of the Guangdong Chamber of Commerce in Nepal in Kathmandu, which now has 138 member enterprises.
Saroj Bhattarai, Acting Consul General of Nepal in Guangzhou, said there is huge potential for investment in Nepal as it is situated between the two fast-growing economies of China and India. Investment opportunities in sectors such as tourism, infrastructure, energy, and agriculture, are open to global investors.
Yang Peng, President of the Guangdong Chamber of Commerce in Nepal, said that Nepal has rich tourist resources while most of the food and daily necessities are imported. "More than 60 Chinese state-owned enterprises have developed quite successfully in Nepal. There are also many opportunities for private enterprises in Guangdong to develop in Nepal. They have competitive advantages in industries such as home appliances, food, and textile manufacturing," said Yang.
The seminar was jointly organized by the CCPIT Guangdong Committee, the Guangdong Chamber of International Commerce, and the Consulate General of Nepal in Guangzhou. It was part of a series of events organized by the Investment Board of Nepal in China to promote the Third meeting of Nepal Investment Summit 2024, which will be held in Kathmandu from April 28 to 29.
The CCPIT Guangdong Committee will organize a delegation to Kyrgyzstan, Georgia, and Nepal in mid-to-late April to investigate local advantageous industrial projects, industrial parks, and enterprises. The delegation will also participate in the Third meeting of Nepal Investment Summit 2024.