The Confederation of Nepalese Industries (CNI) and the China Council for Promotion of International Trade (CCPIT) have reached to an understanding to establish Nepal-China Business Council aiming to promote bilateral investment and business cooperation.

The understanding was reached between the two sides on the occasion of Prime Minister Pushpa Kamal Dahal's ongoing visit to the northern neighbour. CNI President Rajesh Kumar Agrawal and CCPIT Vice- Chair Zhang Shaogang signed on the document on behalf of their respective sides in Beijing, China today.

The Council's affairs will be centered on creating networking opportunities, arranging the bilateral business visits and organising events and dialogues to further systematic business affairs between the two countries, prioritising research and studies on the relevant field.

To achieve these goals, both parties have prepared a roadmap for collaboration. The Council shall have four-members: two each from both sides.

CNI President Agrawal hopes the Council's role would be instrumental in further promoting the business relations between the two close neighbors and in bringing Chinese investment and technology to the country.

The Council would act with its visible effects, he added. CNI immediate past President Vishnu Kumar Agrawal, and current vice presidents Nirvana Chaudhary and Bhim Ghimire were also present in the signing ceremony of the memorandum of understanding to this regard. (RSS)