BETTER MALAYSIA-NEPAL TRADE TIES ON THE HORIZON

By P.Vijian

NEW DELHI, Nov 24 (Bernama) -- Malaysia-Nepal private sector business ties
has received a boost after the apex trade bodies of both countries signed a
cross-border pact last week to open up trade and investment avenues.

A high-profile delegation from the Federation of Nepalese Chambers of
Commerce and Industry (FNCCI) secured a memorandum of understanding (MoU) with
the Federation of Malaysian Manufacturers (FMM) in Kuala Lumpur.

The MoU is likely to alter the economic contours between both countries.

The deal could also possibly perk up the present "measly" two-way trade
volume of about US$60million.

"We want to connect the business communities of both countries and explore
ways to share resources in the private sector.

"Malaysia being a high export market, can export its products to Nepal.
Malaysians companies can also relocate to Nepal where there is an abundant
skilled workforce," Kush Kumar Joshi, president of FNCCI told Bernama in a
telephone interview from Kathmandu.

The tiny Himalayan nation remains an untapped market in South Asia despite
being cradled by two emerging economic superpowers -- India and China -- and
endowed with natural resources.

Prolonged political unrest has also crippled the country's economy.Foreign
investors distanced themselves for more than a decade following the revolt by
Maoist rebels which stifled peace in the country.

Nepal's economy is still limping along under a five per cent annual growth
despite the relative peace after the end of the armed-struggle in 2006.

"The government is fast-tracking major infrastructure projects like the
airport and superhighways.So, there are lots of opportunities for Malaysian
companies in Nepal," said Joshi.

An estimated 250,000 Nepalis are currently working in Malaysia.
--BERNAMA