 
 
May / June2001
Best Wishes
On the Auspicious Occasion of the Accession to the throne of the Kingdom of Nepal by His Majesty King Gyanendra Bir Bikram Shah Dev, the Federation of Nepalese Chambers of Commerce and industry (FNCCI) congratulates His Majesty the King and extends best wishes for His Majesty`s good health, long life and long reign. The FNCCI also wishes Her Majesty Queen Komal Rajya Laxmi Devi Shah’s good health, long life and good fortune. Nepal, China sign six different agreements
During three days official visit of the Chinese Premier Zhu Rongji to Nepal, Nepal and China have signed six different agreements including memorandum of understanding and letters of exchange for enhancing bilateral cooperation. The agreements signed between the two countries are on abolition of double taxation, cooperation in the field of agriculture, a grant assistance of 80 million yuan under economic and technical cooperation, construction of the Syafrubesi Rasuwagadhi road, consturction of a civil service hospital and construction of a polytechnic institute. Minister for Foreign Affairs of China Tang Jiaxuan, Minister of Foreign Trade and Economic Cooperation Shi Guangsheng and Foreign Minister Chakra Prasad Bastola signed the agreements in the presence of Chinese Premier Zhu Rongji and Prime Minister Girija Prasad Koirala, after the official Nepal-China talks. At the talks Prime Minister Girija Prasad Koirala led the Nepalese side and the Premier Zhu Rongji led the Chinese side. Speaking at a press conference held after conclusion of official Nepal-China talks, in Kathmandu on 14 may , Prime Minister Koirala said the talks covered trade, investment, various matters of mutual interest, bilateral ties and international topics of regional and mutual interest. He said Nepal's proposals on setting up a consulate in Shanghai for Chinese tourists wishing to visit Nepal has been accepted by the Chinese Premier. Chinese Premier Zhu Rongjj, on the occasion, said China will always remain positive about Nepal's development efforts, adding that the age old ties between the two countries will grow stronger still. Pointing out that he would cooperate towards ending the difficulties faced by Nepalese with visas for Hong Kong, he suggested to HMG to present a proposal to the Hong Kong Special Administrative Region in this connection. A press statement issued on 16 May by the Ministry of Foreign Affairs at the conclusion of the three-day official visit to Nepal by Chinese Premier Zhu Rongji and Madame Lao An at the invitation of Prime Minister Girija Prasad Koirala. Prime Minister Koirala requested Chinese assistance in the construction of the proposed Baglung-Beni-Jomsom road. In his response, the Chinese Premier said that upon completion of the Syaprubesi-Rasuwagadhi road, the Chinese side would consider taking up the requested road project positively. The Prime Minister also requested the Chinese side to grant preferential treatment to Nepalese products in the Chinese market. Premier Zhu Rongji gave the information that the Chinese Ministry of Foreign Trade and Economic Cooperation would be sending a delegation to look into the possibility of importing more Nepalese products to China in order to promote sustainable commercial interactions between the two countries. Prime Minister Koirala welcomed the Chinese decision to include Nepal in the list of outbound tourist destinations and informed the Chinese side that Nepal welcomes investment by Chinese entrepreneurs in the industrial and tourism sectors. The Chinese Premier expressed the view that more air links between China and Nepal would help enhance people to people relations between the two countries and also agreed in principle to the Nepalese request to open a consulate in Shanghai. The Chinese side also agreed to give positive consideration to the request of Nepal to facilitate visa arrangements for Nepalese visiting the Hong Kong special Administrative Region of China. FNCCI Delegation paid a courtesy call on Chinese Premier Zhu Rongji
During the three-day offical visit of the Chinese Premier Zhu Rongji to Nepal a delegation of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by President Pradeep Kumar Shrestha paid a courtesy call on Chinese Prime Minister Zhu Rongji on 15 May and exchanged views on promoting mutual trade and economic relations. Addressing the delegation Chinese Premier as expressing his happiness to meet business leaders from the private sector and stressed that the role of private sector would be vital in transforming the century old cordial relation between the two countries into mutual economics development. Referring to the various agreements signed between the two countries, he said that private sector will be benefited after the implementation of the met agreement and expressed his delight over getting opportunity to extending economics and technical cooperation in the overall development activities of Nepal, including infrastructure development. In the order to squeeze Nepal's trade deficit with China, Premier Rongji suggested that the Nepalese businessman should produce and export goods that match with preferences and demands of the Chinese people. He also expressed the hope that the recently signed agreement regarding avoidance of double taxation on trade and controlling financial leakage would be helpful to boost Chinese investment in Nepal. He also informed the gathering that Nepal Rastra Bank, the central banks of Nepal, and China will jointly look in to the possibilities towards establishing a bank with Chinese participation and simplify exchange procedures between Chinese and Nepalese currencies. He assured the gathering that Chinese government would continue its support in the economics development activities initiated in joint participation of the private sector. Speaking on the occasion FNCCI President and Co-Chairman of Nepal China Non Governmental Cooperation Forum Pradeep Kumar Shrestha that the mutual relation between the two countries took a new twist after the establishment of diplomatic relation in 1965. Shrestha also appreciated the active role China has been playing in the developmental efforts of Nepal. Highlighting various activities of Nepal-China Non-Governmental Cooperation Forum established in 1996 with an aim to strength private sectors' mutual cooperation of the two countries. He said that the fifth meeting of the Forum, which would be organized at the end of the year in Pokhara, would be helpful in finding areas of extending mutual cooperation. Referring to the soaring trade deficit of Nepal with China, President Shrestha urged the Chinese government to grant especial privilege for Nepalese products in entering into the Chinese market. He also said that both the governments should take steps to introduce modern transaction mechanism to boost mutual trade. He also stressed the need to arrange the payments of the trade between Nepal and Tibet. He urged the Chinese government to reduce recently increased customs on the import of Nepalese goods into Tibet and to open some more border trade points to expand mutual trade. Shrestha as saying that Nepalese businessmen have been encouraged by the signing of the agreement regarding the construction of Syabrubesi-Kerung road link and requested the chinese government to make necessary arrangement to import construction materials from Nepal to use in the various development constructions being conducted in east and south China. Shading light on the various possible joint venture projects between the two countries Shrestha urged the Chinese side to establish a fund to extend loans to Nepal with less interest. He also underlined the importance of the Chinese cooperation in the area of information technology. He also urged cooperation from China in the establishment of model agriculture farm in Nuwakot and Panchkhal and an export promotion center in Nuwakot. FNCCI and the Indonesian CCI sign MOU
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and The Indonesian Chamber of Commerce and Industry (ICCI) signed a Memorandum of Understanding (MOU) in Batam of Indonesia on 15 th May 2001. Badri P. Ojha, Secretary General on behalf of FNCCI President Pradeep Kumar Shrestha and Aburzlal Bakrie, President of ICCI sign the MOU . The MOU aims at using the immense possibilities and potentialities for economic growth, development and promotion of bilateral trade and investment within the framework of the laws and regulations prevelent in the two countries. The MoU aims at fostering a sprit of better cooperation and coordination between business communities of both countries. As per the MoU both sides will regularly exchange market information for furthering of the existing trade and economic of both countries; assist exchange of commercial and economic delegations, exchange relevant publication of the laws and regulations pertaining to foreign trade and investment; assist one another in participating in exhibitions including specialized exhibitions, trade and technological fairs, seminars, symposia, conferences and other similar events taking place in the respective countries. The MOU also aims of assisting in the amicable and friendly settlement of trade dispute arising out of business transactions between the members of both organisations through concillation, negotiation and arbitration where ever necessary taking into account international standards and conventions in this regard. Similarly, both organisations will meet as an when necessary to have exchange of views for strengthening the ties between the business communities of both the countries with a view to fostering cooperation for improved relations and rendering better services to their respective constituents . The MOU, will also arrange visit of officials of both organisations from time to time within the frame work of the rules and regulations of the two countries. Economy grows by 4.81%
The country's economy grew by 4.81 per cent during the first three years of the Ninth Five Year plan (1997-2002). The average growth rate during this period was 1.19 per cent less than the target of 6. per sent set by the plan. The mid-term evaluation report of the Ninth Plan says that the growth rate in agriculture sector remained 2.88 percent during this period against a target of 4.0 per cent while the non-agricultural sector grew by 6.04 per cent visa-vis the target of 7.3 per cent. Prepared by Full bright IDRS United for the National Planning Commission (NPC), the report has not included the growth rate of these year (fourth year) in it. The report that reviews the progress of all the areas was prepared on the basis of the initial sectore evaluations of the Commission itself. The report says that it is unlikely that the target of the plan will be met even if the economy grows by 6.0 per cent during the current fiscal year and 6.3 per cent in the next. It will fall short by 0.8 per cent according to the report. Moreover, the country's economy is not likely to grow by 6.0 per cent during the current fiscal year. The Central Bureau of Statistics has projected a growth rate of 5.5 per cent for the fiscal year 2000/2001. The growth rates during the first two years remained 3.34 per cent and 4.59 per cent respectively, much lower than that target. The economy of the country depends largely on agriculture but the growth in this sector remained less than the target due to unfavorable weather conditions. The removal of subside on fertilisers and seeds were other causes of low agricultural out put during that period. However, the national economy grew by 6.2 per cent during the third year. Thanks to favorable weather conditions. Nepal , India sign for tourism promotion
Nepali and Indian tour operators signed a memorandum of understanding (MoU) on tourism co-operation in New Delhi recently. Nepal Association of tour operators (NATO) and Indian Association of Tour Operators (IATO), leading tour associations of both the countries have agreed to work together to produce synergic impact for the promotion of tourism especially in the region and beyond. The areas of cooperation, according to the MoU, will be organizing cultural programmes, food festivals, sales mission, and travel marts, exchanging visits of their members among others. Likewise, both the countries would give priority and special privileges to each other on reciprocal basis. Nepal-Austria CCI established in Nepal
Nepal-Austria Chamber of Commerce and Industry (NACCI) has recently been established in Nepal with an objective of promoting industrial and trade relation between two countries. Both being land-locked, Nepal and Austria have been globally known as famous tourist destination. There is good opportunity of bilateral trade between these nations and the association is expected to boost the friendly relations between them. Hama Iron & Steels gets
ISO 9001
Hama Iron and Steel Industries Pvt. Ltd. has received ISO 9001 of the 2000 series, an international certification of quality and standard. The company achieved the covetous standard certification through TUV Reinland, Germany. Established in 1990 in Bara district, more than Rs 200 million has been invested in the industry so far, The industry had received Nepal Standard (NS) Mark in 1996. The industry has the production capacity of 30000 metric tons of iron and steel rods and eenjous15 per cent of market share. Pioneer Cables gets
ISO 9002
The Pioneer Electro Cables Pvt. Ltd., a member company of Sarda Group, has recently received ISO 9002, an international certificate of standard and quality. According to the company, it has become the first Nepalese cables company to be awarded with the prestigious certification, The Company got the standard and quality certification iron DNV certification B.V. of the Netherlands on January 12,2001. It has also received the NS (Nepal Standard) mark. The company has been producing house wiring,flexible concentric,power, control, Communication auto and T.V. antenna cables and ACSR conductors, FRLS twisted cables and other varities of cables catering too the demands of the consumers. Rum Pum regional Excellence Award set up
Asian Thai Foods Pvt. Ltd. has announced the establishment of Rum Pum Regional Excellence Award 2001. According to a press release issued by the company the Excellence Award will be given to altogether 10 students securing highest marks in the School Leaving Certificate (SLC) examination. It is stated that the award will be given to each of a girl and a boy, from the five development regions, within 30 days of SLC result publication. The Award carries a purse of Rs. 10,000 each and a certificate, adds the release. 
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