The Sharjah Chamber of Commerce and Industry (SCCI) has discussed ways to enhance trade and investment cooperation between business communities in the emirate and Nepal, a report said.

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, Emirates News Agency, WAM, said.

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.

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 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.

Mohammad Ahmed Amin Al Awadi, Director-General of SCCI, 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.