Tourism has seen a 20% growth two years in a row, as more Asian tourists discover Nepal’s potential for adventure
New trade and investment agreements between Qatar and Nepal will allow investors to explore the “abundant potential for promoting bilateral trade, tourism and foreign direct investment,” according to the Nepalese ambassador to Qatar.
Surya Nath Mishra told Gulf Times that the Government of Qatar has sent a draft agreement on investment promotion and protection to Nepal, which is currently under consideration. Mishra believes that this important agreement, as well as an agreement with the Hassad Food Company, will be signed at the next meeting between the two heads of state.
Nepal has already sent an invitation to HH the Emir for an official state visit, and so it is likely to be only a matter of time before these agreements are implemented. Mishra said that “potential investors in Qatar are eager to make investments in the energy sector, tourism sector, service sector – hotels, banking companies, insurance companies.” He explained that there are three main sectors that have the potential to contribute significantly to Nepal’s development: agriculture in the abundant fertile flatlands; the world’s second richest water resource system (after Brazil) which, if developed, can generate 85GW of electricity which the country desperately needs; and remarkable natural beauty and a rich cultural heritage that currently draws in 750,000 tourists a year.
Nepal produces organic fruit, vegetables, rice and pulses, tea, coffee, spices, honey, carpets, jewellery, garments, mustard oil, flour and snack foods which would be of interest to the Qatari market. Unfortunately, as a landlocked country, transport costs from Nepal are considerable. Bangladesh and India signed a railway agreement last year, and Bangladesh is going to launch a railway project this year. If Nepal uses port facilities in Bangladesh it will result in shorter transport time than using the port in Calcutta, which is 583km from Nepal’s border. Continue reading →
