Envoy stresses strengthening US-Nepal economic ties

December 20, 2017 06:00 AM Republica


KATHMANDU, Dec 20: US Ambassador to Nepal Alaina B Teplitz has said that one of key areas of cooperation between Nepal and the US in coming years should be to increase growth in Nepal by strengthening economic ties between the two countries. 

Addressing a monthly lecture and policy discussion series on US-Nepal bilateral relationship: The Next 70 Years and Beyond in Kathmandu on Tuesday, the ambassador made the remarks while outlining major areas of cooperation between the two countries in the next 70 years. She mentioned that collaborative partnership in ensuring accountability and transparency and genuine inclusion of women and marginalized groups of people in various state structures could improve other major areas of cooperation between the two countries. 

Highlighting the various areas of cooperation between US and Nepal over the past 70 years, Ambassador Teplitz said they have already started redesigning their development assistance modality in the aftermath of the country embracing federal system of governance to reflect the new reality.  She expressed confidence that the donor and recipient relations between Nepal and US would engage in robust economic partnership in coming years. 

The ambassador, however, pointed out the need to create investment-friendly environment in Nepal by avoiding red tape and ensuring policy clarity and stability to bring in more investment in Nepal. She also suggested the new government to introduce investors-friendly foreign investment bill and agro-business promotion bill at the earliest to help bring economic development in Nepal. 

Also, speaking on the occasion, former Nepali ambassador to the US Shankar Sharma said the unique strengths of US could help it to maintain itself as great power even in the years to come. He argued that the ability of the US to attract best brains from around the world, its unique capacity of technological innovation, huge market and the influence that diaspora from various countries may exert could help the US to maintain its superior position.

Sharma said there is a huge potential for Nepal to reap benefit from US as it is not only an important source country for tourist, but also a huge market for exporting goods from Nepal. “Although China and India are set to emerge as the world's largest economies in coming years, the position of US will be more valuable for Nepal even in the days to come,” he said.

 


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