Kathmandu, 14 July 2023 (WAI): Pakistan’s Ambassador to Nepal, Abrar Hashmi, met with Nepal’s Minister of Finance, Dr. Prakash Sharan Mahat. The discussions mostly centered on looking into ways to improve Pakistan-Nepal economic connections through various cooperative projects.
During the meeting, Minister Mahat and Ambassador Hashmi emphasized the value of bilateral cooperation. They reiterated their commitment to reviving joint initiatives to increase travel, business investment, and trade between the two nations.
Both officials recognized the potential for mutually beneficial cooperation in critical industries, including tourism, textiles, tea, education, and information technology-enabled services (ITeS).
Reactivating the Joint Economic Commission (JEC) and Joint Business Council (JBC) institutions was one of the primary objectives. These platforms provide a framework for communication and collaboration between the corporate communities of Pakistan and Nepal, promoting the flow of thoughts, expertise, and investments.
By revitalizing these institutions, both countries hope to enhance their economic relations and seek new paths for growth and development.
Ambassador Hashmi and Minister Mahat emphasized the need to create direct air connectivity between Pakistan and Nepal. Direct flights would promote interpersonal interactions, ease business travel, and increase tourism, opening new possibilities for cooperation and economic development. Additionally, constructing a direct air route would deepen cultural and social relations between the two countries.
Furthermore, the discussions underlined the potential for collaboration in the textile industry, considering Pakistan’s competence in textile manufacturing and Nepal’s rich textile legacy.
Both countries’ representatives stated a desire to investigate potential channels for cooperation, such as joint ventures, technology transfers, and skill-building initiatives. Such alliances would economically benefit both nations and help increase employment and skill levels.
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Tea has emerged as another promising field for collaboration. Pakistan has a substantial consumer market, whereas Nepal is renowned for its high-quality tea manufacturing. Strengthening trade and cooperation in the tea business could lead to new export opportunities as well as the sharing of expertise and knowledge between the two countries.
Education and ITeS were also identified as industries with enormous potential for partnership. Pakistan has a strong education sector and a rapidly expanding IT industry, whereas Nepal has a skilled IT workforce. Collaboration in these areas would promote information sharing, capacity building, and employment possibilities, advancing the socioeconomic progress of both nations.
Ambassador Abrar Hashmi and Minister Prakash Sharan Mahat concluded the meeting on an optimistic note, expressing their dedication to boosting economic ties between Pakistan and Nepal. The conversations were a start towards revitalizing the economic alliance, increasing mutual prosperity, and generating opportunities for both countries’ business groups.
A student of International Relations interested in National Security strategies, with a good focus on Geo-Politics, Foreign Policy, and Public & Cultural Diplomacy.
