Industry Minister Bhandari Meets Korean Ambassador

Apr 02, Kathmandu- A meeting was held today between Minister of Industry, Commerce and Supply Damodar Bhandari and Ambassador of the Republic of Korea to Nepal, Tae-yong Park. Mentioning that Korea is an important and reliable development partner for Nepal's social and economic development, Minister Bhandari said that Nepal wants to benefit from Korean experience, knowledge, skills and technology for agriculture, industry and hydropower development.

Minister Bhandari along with Ambassador Tae-yong urged the Korean government and the private sector to openly cooperate in Nepal's productive and other sectors, including the development of the hydropower and energy sectors, as the investment-friendly environment in Nepal has become more favorable in recent days. He requested to facilitate the significant participation of the Korean government and the private sector in the investment conference of Nepal to be held on April 28-29.

Expressing his happiness that the cordial relations between Nepal and the Republic of Korea have become stronger and more harmonious in recent years, Minister Bhandari said that friendship, understanding and mutual support is continuously increasing even at the people's level. Minister Bhandari mentioned that Korea's contribution to the development of human resources and technical assistance in various fields through the International Development Cooperation Agency (COICA) is important for Nepal.

On that occasion, Ambassador Tae-yong said that since Korean investors have shown a lot of desire to invest in Nepal, an investment-friendly environment should be created. He asked to find areas that can be invested. Tae-yong said that the Korean government is ready to create jobs by operating medium industries. He emphasized that the customs rate should be subsidized because the same price will be charged when the vehicle parts are brought and the vehicle is 'assembled'.

He informed that Korea is positive to help the export of Nepali goods as the Korean people are very impressed with 'Made in Nepal'.