SCCI explores trade opportunities with Nepal at private sector level

The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to enhance trade and investment cooperation between the business community in the emirate and its counterpart in Nepal.

Emphasising the UAE businesses’ commitment to diversify their investments, the discussions highlighted opportunities for strategic partnerships with Nepali companies at the private sector level, leveraging the robust ties between the two countries to unlock new commercial possibilities.

The discussions took place during a meeting between Sheikh Majid Faisal Khalid Al Qasemi, First Vice Chairman of the Sharjah Chamber of Commerce and Industry, and Tej Bahadur, Ambassador of Nepal to the UAE.

Held at SCCI’s headquarters in Sharjah, the meeting was attended by Mohammad Ahmed Amin Al Awadi, Director-General of SCCI, and Abdulaziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, along with key officials from both sides.

The meeting delved into the potential signing of a Memorandum of Understanding (MoU) to foster deeper trade ties between the UAE and Nepal’s private sectors.

The MoU would seek to advance shared economic interests by increasing exports across sectors such as trade, handicrafts, gold, and agriculture. The move is also expected to contribute to bolstering food security and promoting sustainable development in both nations.

During the meeting, Sheikh Majid Faisal Al Qasemi underscored the steady growth in economic relations between the UAE and Nepal, noting that the UAE is a key non-oil trade partner for Nepal.

He pointed to the importance of reciprocal visits in fostering deeper cooperation between the private sectors of both nations, while also exploring new opportunities in areas such as food security, tourism ventures, and investments in renewable energy.

For his part, Mohammad Ahmed Amin Al Awadi emphasised that Sharjah is known for its competitive investment advantages and strategic perks, citing the emirate’s attractive business environment and the innovative facilities provided by the Sharjah Chamber.

These services are designed to help investors grow their economic activities and create a supportive framework for business growth and prosperity.

Al Awadi also encouraged Nepali companies to join the Watch and Jewellery Middle East Show and ExpoCulinaire, which are both hosted and organised annually by Expo Centre Sharjah.

A few days earlier, the Sharjah Chamber of Commerce and Industry (SCCI) has affirmed its commitment to enhancing economic cooperation, boosting joint investments, reinforcing partnerships and fostering trade missions between the business community in Sharjah and its counterpart in Uzbekistan.

These include organising joint events and business forums that bring together entrepreneurs and businessmen from both sides to explore key investment opportunities and enhance collaboration between investors.

These remarks were made during a meeting held at SCCI’s headquarters between Abdallah Sultan Al Owais, Chairman of SCCI, and Abdulaziz Akkulov, Ambassador of the Republic of Uzbekistan to the UAE.

During the meeting, both sides discussed ways to strengthen partnerships and fuel growth in trade exchanges between the two countries. Discussions also delved into prospects for enhancing communication channels to organise joint events and facilitate reciprocal visits of business delegations.

These initiatives aim to introduce the business communities of Sharjah and Uzbekistan to the investment advantages in both countries, encouraging entrepreneurs to capitalise on available opportunities across various sectors and establish joint ventures.

The Sharjah Chamber also extended an invitation to the Uzbekistan delegation to participate in key upcoming events, including the Middle East Watch & Jewelry Show and Expo Culinaire at Expo Centre Sharjah.

Abdallah Al Owais warmly welcomed the Uzbekistan delegation, emphasising the robust and expanding economic relations between the UAE and Uzbekistan.

Bilateral relations between the two countries are witnessing continuous development, as the UAE-Uzbekistan non-oil foreign trade recorded a significant 104 percent growth with its value totaling USD 993 million in 2022, as compared to USD 487 million in 2021. The UAE’s non-oil exports to Uzbekistan during this period totaled USD 92 million, with a growth rate of 190 percent compared to 2021.

Al Owais noted that the promising outcomes witnessed in the UAE-Uzbekistan trade relations provide a solid foundation for pushing the economic and trade cooperation between the friendly countries forward and maximising the benefits of the diverse investment opportunities available on both sides.

WAM