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International trade

Nepal and Cambodia Strengthen Bilateral Trade Cooperation with MoU

Strategic Insights

— 1 min read

Nepal and Cambodia have taken a significant step towards strengthening their bilateral trade cooperation with the signing of a Memorandum of Understanding (MoU) between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Cambodian Federation of Employers and Business Associations (CAMFEBA). The MoU, signed on June 10 in Geneva, Switzerland, aims to promote business-to-business activities, trade partnerships, and investment opportunities between the two countries.

Key Takeaways:

  • The MoU focuses on sharing best practices in employment, labor laws, and enterprise development, as well as implementing joint programs for research, capacity enhancement, and investment promotion.
  • The agreement covers cooperation in entrepreneurship, industrial relations, human resources, professional security, skill development, and investment promotion sectors.
  • The MoU emphasizes the importance of regular consultation and necessary works for effective implementation.
  • The signing of the MoU is expected to deepen economic collaboration between Nepal and Cambodia, create an inclusive business environment, and promote trade, expand collaboration, and investment between the two countries.
  • Nepal's Minister for Labour, Employment and Social Security, Sharat Singh Bhandari, and CAMFEBA Vice President Sok Lor were present to witness the signing of the MoU.
  • FNCCI Vice-President Jyotsana Shrestha, Executive Member Babukaji Karki, and Executive Director of CAMFEBA, Tep Sophoan, were also present on the occasion.

Statistics:

  • No specific statistics were mentioned in the article.
  • However, the MoU aims to promote trade, expand collaboration, and investment between Nepal and Cambodia.

Sources:

  • "Nepal, Cambodia sign MoU to strengthen bilateral trade cooperation" (Source: The Himalayan Times, 10 June 2022)
  • Federation of Nepalese Chambers of Commerce and Industry ([FNCCI](https://www.fncci.org/nep/))
  • Cambodian Federation of Employers and Business Associations (CAMFEBA) (Source: CAMFEBA official website)

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