NICCI and ASOCHAMUP seal deal to facilitate trade and investment between Nepal and India

In a strategic move to strengthen the trade and economic relations between Nepal and India, the Nepal-India Chamber of Commerce and Industry (NICCI) and the Associated Chambers of Commerce and Industry Uttar Pradesh and Uttarakhand (ASOCHAMUP), India, on Monday, signed a Memorandum of Understanding (MoU) to jointly promote trade, agriculture, investment, and cross-border business engagement.

KATHMANDU, July 9: In a strategic move to strengthen the trade and economic relations between Nepal and India, the Nepal-India Chamber of Commerce and Industry (NICCI) and the Associated Chambers of Commerce and Industry Uttar Pradesh and Uttarakhand (ASOCHAMUP), India, on Monday, signed a Memorandum of Understanding (MoU) to jointly promote trade, agriculture, investment, and cross-border business engagement.

The agreement, signed by NICCI President Sunil KC and ASOCHAMUP President Er. D. P. Singh, aims at institutionalizing cooperation between the two Chambers through the exchange of business delegations, information sharing, and joint promotional events. Under the terms of the MoU, both organizations have agreed to facilitate reciprocal participation of business representatives in trade missions, investment forums, fairs, and exhibitions held in each of their countries, according to NICCI.

NICCI will remain as a Nepal partner for ASOCHAMUP in Nepal and similarly ASOCHAMUP will remain as a state level partner for Uttar Pradesh and Uttarakhand on an exclusive basis for India, according to the understanding.

“This partnership will also include joint studies, market surveys, and publication exchanges focused on identifying emerging areas of mutual economic interest,” said NICCI president KC after signing the MoU.

“The two sides will also regularly share non-confidential publications and data relevant to trade and investment prospects,” said ASOCHAMUP President Er. D. P. Singh, on the occasion.

The MoU marks a formal step toward reinforcing long-standing economic interdependence between the two South Asian neighbors, with both organizations pledging to work closely to unlock the potential sectors and address challenges faced by businesses across borders.

With this MoU, both the chambers will work in expanding bilateral trade, and economy and the members of both the chambers will be a part of the initiative to foster the bilateral economic relations, NICCI President KC added.

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