FNCCI signs agreement with Board of Trade of Thailand to strengthen economic cooperation

Kathmandu: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Board of Trade of Thailand have signed a memorandum of understanding (MoU) to strengthen economic cooperation.

The FNCCI and the Thai Chamber of Commerce and Board of Trade reached an understanding on cooperation and the promotion of trade and business.

The MoU was signed in Bangkok on Wednesday, in the presence of the Prime Ministers of both countries, by Chandra Prasad Dhakal, President of FNCCI, and Sanan Angubolkul, Chairman of the Thai Chamber of Commerce and Board of Trade.

MoU aims to strengthen trade relations between Nepal and Thailand, promote economic cooperation, and establish a structured framework for expanding trade and investment. The agreement will significantly contribute to further strengthening business cooperation and expanding economic collaboration between the two countries.

Under the bilateral agreement, both parties committed to supporting trade promotion, facilitating joint ventures, exchanging trade information, and promoting industrial cooperation.

The MoU also includes provisions to encourage participation in trade fairs, business forums and special economic programmes. Furthermore, the agreement outlines the promotion of dispute resolution systems and the strengthening of technical expertise and training exchanges.

Speaking on the occasion, FNCCI President Dhakal said that this agreement between Nepal and Thailand has laid a new foundation for economic cooperation between the two countries.

‘There are ample opportunities for business cooperation between the two countries. This cooperation between FNCCI and the Thai Chamber of Commerce and Board of Trade of Thailand will open new opportunities for trade and investment, which will provide opportunities for businesses in both nations to prosper,’ said President Dhakal.

Similarly, Chairman Angubolkul of the Thai Chamber of Commerce and Board of Trade said that this partnership will create new opportunities for the business communities of both countries.

The MoU, signed on the occasion of the sixth summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), will be valid for three years and will serve as a strong foundation for continued cooperation between Nepali and Thai businesses. FNCCI is eager to work with the Thai Chamber of Commerce and

Board of Trade of Thailand to successfully implement the goals of this agreement and explore new possibilities for mutual- cooperation.