“We need to increase meetings with US investors for more investment. Realizing this fact, we are soon preparing to organize a roundtable conference in Kathmandu or New Delhi for India-based US investors with the help of US embassy in Nepal,” said Purushottam Ojha, secretary at the Ministry of Commerce and Supplies. He also said US investors having better knowledge of investment climate in Nepal would be invited for the meeting.[break]
Ojha, who recently held talks with investors and high level officials in the US, said agriculture, tourism, information technology, hydropower and services were the sectors where Nepal might get US investment.
Nepalese ambassador to the US, Dr Shankar Sharma, had recently told Republica that Nepal can tap at least 2,000 India-based US investors that are currently making huge investment mainly in service, hydropower, infrastructure and agriculture sectors.
According to Ojha, US officials, during the recently held first meeting of Nepal-US Trade and Investment Council (NUSTIC) in the US, have assured Nepali officials their assistance in promoting products that are selected under Nepal Trade Integration Strategy (NTIS).
The government has identified 19 export potential products -- seven agro-based, five industrial and seven services -- under the NTIS.
“The US officials have assured us to prioritize Nepali products included in NTIS,” said Ojha.
The NUSTIC is a bilateral trade forum envisaged by TIFA. It aims to promote bilateral trade and investment.
In a bid to promote Nepali products in the US market, Nepal and US have also agreed to set up a permanent ´exhibition center´ in Washington.
“The exhibition center will regularly showcase Nepal´s top exports to US market along and products with high export potentials,” Ojha added.
The recently signed TIFA replaces the bilateral trade agreement that the two countries signed in 1947.
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