Kathmandu : The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Thai Chamber of Commerce and Board of Trade have reached an understanding on mutual cooperation and trade promotion.
The agreement was signed in Bangkok on Wednesday in the presence of Prime Minister KP
Sharma Oli and Thai Prime Minister Paetongtarn Shinawatra. FNCCI President Chandra Prasad Dhakal and President of the Thai Chamber of Commerce and Board of Trade, Sanan Angubolkul, signed the memorandum.
The Nepali delegation, led by Prime Minister Oli, is on an official visit to Thailand from April 1 to April 5, 2025 and will also participate in the sixth BIMSTEC Summit.
The agreement between FNCCI and the Board of Trade aims to strengthen trade relations between Nepal and Thailand, promote economic cooperation, and establish a structured framework for the expansion of trade and investment. It is also believed that this understanding will significantly contribute to further strengthening business collaboration and expanding economic cooperation between the two countries.
Under the agreement, both parties have committed to supporting trade promotion, facilitating joint ventures, exchanging business information, and fostering industrial cooperation. Furthermore, the memorandum includes provisions to encourage participation in trade fairs, business forums, and special economic programmes. The agreement also outlines the promotion of dispute resolution mechanisms and the strengthening of technical expertise and training exchange.
Speaking on the occasion, FNCCI President Dhakal remarked that this has opened further avenues for the expansion of investment and trade between Nepal and Thailand. Similarly, the President of the Board of Trade, Sanan Angubolkul, stated that Thai businesses are interested in expanding investment and trade with Nepal.
This Memorandum of Understanding, coinciding with the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit, will be in effect for three years. It will serve as a strong foundation for continuous collaboration between Nepali and Thai businesses. The FNCCI is eager to work with the Board of Trade of Thailand to successfully implement the objectives of this agreement and explore new possibilities for mutual cooperation.
