Nepal and Thailand are set to strengthen their economic ties through the formation of a Joint Business Council (JBC), aimed at fostering trade, investment, and business collaboration between the two nations.
Discussions on the establishment of the council took place during a high-level meeting on Friday, April 4, in Bangkok between the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and the Chamber of Commerce and Board of Trade of Thailand.
During the meeting, FNCCI President Chandra Prasad Dhakal formally proposed the formation of the JBC, emphasizing the importance of creating a structured platform for sustained dialogue, strategic cooperation, and business development.
An agreement to move forward with the formation of the Joint Business Council was reached at the meeting. The task of coordinating the necessary processes has been entrusted to FNCCI Director General Gokarna Raj Awasthi and Vibeke Lyssand Leirvag, President of the Joint Foreign Chambers of Commerce in Thailand.
“Nepal stands as a land of promising potential, offering countless opportunities for investors and entrepreneurs,” said Dhakal. “The initiative to establish a Joint Business Council will not only strengthen our bilateral partnership but also drive economic growth for both countries.”
Dhakal expressed FNCCI’s full commitment to facilitating Thai investment in Nepal, highlighting that several legal reforms have already been implemented to create a more investment-friendly environment. He assured that the government has put in place strong measures to ensure the security of foreign investments.
The FNCCI president outlined investment opportunities in key sectors such as tourism, energy, agriculture, information technology, and construction, and encouraged Thai businesses to consider joint ventures with Nepali counterparts.
Addressing members of the Thai Chamber of Commerce and broader business community, Dhakal extended an invitation to Thai investors to visit Nepal and explore these prospects firsthand. He also urged the Thai government to consider introducing an on-arrival visa facility for Nepali citizens, a move that would further ease business and travel between the two countries.
The development follows the model of the Nepal-Qatar Joint Business Council, which was formally agreed upon on April 24, 2024, with its first presidential-level meeting held in Doha on October 2, 2024.
Speaking at the event, Sanan Angubolkul, President of the Thai Chamber of Commerce and Board of Trade, expressed strong support for FNCCI’s proposal and affirmed Thailand’s readiness to deepen mutual cooperation.
“We are optimistic about the FNCCI’s vision and will actively coordinate with the Thai government on facilitating business travel, including the on-arrival visa request for Nepali nationals,” said Angubolkul.
The event was attended by FNCCI Vice Presidents Hemraj Dhakal and Jyotsna Shrestha, Executive Committee member Pashupati Dev Pandey, and senior representatives from the Thai Chamber of Commerce and Board of Trade.
Earlier, on Wednesday, April 2, in the presence of Prime Minister KP Sharma Oli and his Thai counterpart Phetongtran Shinawatra, a Memorandum of Understanding (MoU) was signed in Bangkok between FNCCI and the Chamber of Commerce and Board of Trade of Thailand, for mutual cooperation and the enhancement of trade and business.
