US readying to invest in Nepal

Nepali Ambassador to United States Dr Shankar Sharma said that he is working on Trade and Investment Framework Agreement (TIFA) to increase competitiveness of Nepali export goods.

He urged entrepreneurs to work with their counterparts in US for mutual benefit. He was speaking at an interaction programme organised by Nepal Chamber of Commerce (NCC) here today.

US businessmen are keen on investing in hydropower, agriculture and health sectors, he said. He advised to try attracting those US investors who have already made investments in India and China.

According to Sharma, US market has a huge potential for Nepali handicrafts and that can be increased through economic diplomacy. We can also attract US investments through economic diplomacy, he said.

NCC president Surendra Bir Malakar said that the country should work on both long and short-term plans to boost exports industry in the country. NCC is exploring possibility of Nepal Trade Fair in USA in May 2011, he said.

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