Minister Bhandari, Ferran discuss Nepal-EU trade issues

Kathmandu: Myriam Ferran, the Deputy Director General at the European Commission Directorate General for International Partnerships, on Wednesday called on Minister for Industry, Commerce and Supplies, Damodar Bhandari.

In the meeting held at Soaltee Hotel, the Minister highly appreciated the European Union's continued support and cooperation to Nepal's socio-economic development.

"Nepal and the EU have been enjoying close relations since 1974 and Nepal accords high priority to the cooperation and support from the EU." As he said during the meeting, Nepal and the EU share common understandings regarding the necessity and relevancy of democracy, freedom, and pluralism.

He highlighted the need for multi-sectoral cooperation to achieve the Sustainable Development Goals (SDGs), the collective goals of the world, and address pressing issues like global hunger and climate change crisis.

Nepal is in the process of graduating to a middle-income country from the category of a Least Development Country (LDC) and it needs technical and economic support from its development partners including the EC for the sustainability of such a historic transformation, according to the Minister. As the Minister stated, Nepal and the EU relations and cooperation are based on mutual respect.

Describing the EU as a major destination for the exports of Nepali goods and services, the Minister urged the Commission to ensure easy access for Nepali exportable goods to the EU market.

He also praised the EU's role in boosting Nepal's trade capacity and in the value chain development. Expressing his hope that Nepal-EU relations will be strengthened in the days to come, he said, "We are pursuing a post-COVID economic recovery and in the process of graduating to the developing country, and in this situation, we require more investment in various development sectors."

In response, Deputy Director Ferran pledged support for the enhancement of the EU market for Nepali goods. Calling for increasing exports of goods from Nepal to the EU, she said the EU yearns to see the market expansion for Nepali goods in the EU. "We will leave no stone unturned to cooperate with Nepal towards that end."