His Majesty's Government's emphasis on economic diplomacy

Press Release,
Ministry of Foreign Affairs
December 29, 2002
Kathmandu

His Majesty's Government has formed a high-level Economic Diplomacy Co-Ordination Committee under the convenorship of the Rt. Hon. Prime Minister and with the participation of the private sector with a view to further promoting the interests of Nepal through economic diplomacy. Hon. Foreign Minister, Hon. Finance Minister, Industry, Hon. Commerce and Supplies Minister, Hon. Labour and Transport Minister, Hon Culture, Tourism and Civil Aviation Minister, Hon. Water Resources Minister, Hon. Vice Chairman of the National Planning Commission, Chief Secretary, Finance and Industry, Commerce and Supplies secretaries are the members of the committee. The private sector is represented by the chairman of the Federation of the Nepalese Chamber of Commerce and Industry (FNCCI), executive director of the Nepal Tourism Board and chairman of the Nepal Chamber of Commerce. Foreign Secretary is the member secretary of the high level committee.

According to the same decision, a multilateral economic affairs division has been set up at the Foreign Ministry combining the economic relations and coordination section of the Foreign Ministry to make the economic diplomacy more result oriented. In accordance with the direction of the high level committee, the division will formulate Nepal foreign economic policy and programs related to economic diplomacy and implement and follow up them to make the economic diplomacy more effective and mobilize the Nepalese diplomatic missions abroad to forward the promotion of export, foreign investment, tourism and foreign employment programs effectively.

His Majesty's Government has also decided in principle to approve the report presented to the Prime Minister on July 4 by the Nepal's diplomatic policy related study group under the leadership of Dr. Badri Prasad Shrestha and implement the report gradually.