Nepal PM hopes for increased Indian investment

Wednesday, 26 January 2005, 08:00 Hrs
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NEW DELHI: Nepal's Prime Minister Sher Bahadur Deuba Wednesday said his country was keenly looking for "increased Indian investment" in the Himalayan kingdom.

In a message congratulating India on its 56th Republic Day, Deuba said there was much scope for "expansion and consolidation of economic and commercial ties between the two countries to the mutual benefit of our two peoples".

Paying tribute to India for its "impressive progress in various fields", especially "world-class achievements in science and technology" and in the sectors of computer and software engineering, Deuba said India has "huge potential to become a knowledge-based economy".

India, he acknowledged, had extended "invaluable support" to Nepal's development efforts, cooperation that has helped socio-economic, infrastructure and human resources development.

Nepal too, Deuba said, has taken business-friendly and market-oriented policy measures to enhance business activities.

"Nepalese and Indian private sectors have over the years made significant contributions towards expanding bilateral trade and investment," he said.

The two countries enjoyed "cordial and cooperative relations based on solid foundations of historical, cultural, social and economic linkages... Our relations are marked by goodwill, understanding, mutual trust and cooperation," he remarked.

Source: IANS
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