November 02, 2017<\/strong><\/p>\n With an aim to boost the Nepal-Austria bilateral ties, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Austrian Federal Economic Chamber (AFEC) signed a Memorandum of Understanding (MoU) on October 31, 2017.<\/p>\n FNCCI President Bhawani Rana and AFEC Vice-President Richard Schenz signed the pact on behalf of both the nations and the two sides have also agreed to review the Nepal-Austria agreement formed in 1993.<\/p>\n The new collaboration will focus on enhancing private sector collaboration for promoting trade, commerce and technology transfer between the two countries.<\/p>\n \u201cAs the government has adopted a policy to create an investment-friendly environment, this agreement can benefit both countries through the exchange of knowledge, skills and technology,\u201d said the Nepali Industry Minister Sunil Bahadur Thapa.<\/p>\n On the occasion, the Minister also sought Austrian investment in Nepal.<\/p>\n Meanwhile, Nepal\u2019s Industry Secretary Yam Kumari Khatiwada informed that Nepal has declared tourism and infrastructure development as priority areas to facilitate Foreign Direct Investment in these sectors.<\/p>\n Gyanendra Lal Pradhan, Executive Committee Member of FNCCI, opined that the agreement would benefit Nepal by providing needed assistance from Austria in transportation and hydropower sectors.<\/p>\n Gyanendra also sought bilateral cooperation in the tourism sector to minimize the tourism costs through effective infrastructure development.<\/p>\n In response, Austrian Ambassador to Nepal Brigitte Oppinger-Walchshofer informed about Austrian entrepreneurs\u2019 willingness towards investing in Nepal.<\/p>\n \u201cThe bilateral ties could help bolster the relationship in economic areas in the coming days,\u201d she added.<\/p>\n Nepal and Austria have been enjoying cordial trade relations majorly in the areas of infrastructure development, hydropower, drinking water supply, eco-tourism development and conservation of ancient temples.<\/p>\n Patan Museum, Rolwaling eco-tourism, Garden of Dreams at Keshar Mahal of Kathmandu and Namche Small Hydroelectric Project are some of the notable Nepali projects completed in collaboration with Austria.<\/p>\n Nepal\u2019s trade with Austria has been growing in the recent years.<\/p>\n According to the official data of the Trade and Export Promotion Centre, Nepal-Austria trade has grown two-fold from Rs 364.15 million to Rs 645.47 million during the 2012-16 period.<\/p>\n Nepal\u2019s exports to Austria majorly include woolen carpets, paper and paper products, handicrafts, readymade garments, jewelry and silverware.<\/p>\n Whereas, machinery and parts and communication equipment form Nepal\u2019s major imports from Austria.<\/p>\n","protected":false},"excerpt":{"rendered":" November 02, 2017 With an aim to boost the Nepal-Austria bilateral ties, the Federation of Nepalese…<\/span><\/p>\nInfrastructure Development Discussed<\/h4>\n
Nepal-Austria Trade on The Rise<\/h4>\n