August 24: Management Association of Nepal (MAN) and the PHD Chamber of Commerce and Industry (PHDCCI), India signed a Memorandum of Understanding (MoU) at the office of PHDCCI, New Delhi in a bid to promote trade, technical and economic cooperation between Nepal and India.

MAN informed that the signed MOU was exchanged between the two organizations at an event held at Taj Mansingh Hotel on August 24 in presence of Prime Minister Sher Bahadur Deuba.

 Sushil Bhatta, president of MAN, and Gopal Jiwarajka, president of PHDCCI signed the MOU.

Issuing a press statement, MAN said both of the national organizations work as the two focal points in both the countries in an effort to establish and develop mutual trade relations between their respective members and also enlarge the areas and scope of cooperation.

“This MOU helps to strengthen bilateral relations between the two countries and business communities,” the statement said.

Both parties claim the MOU is a milestone in arranging reciprocal trade and market research missions and make beneficial business contacts as well as activities aimed at promoting mutual trade and relations. They also agreed to collaborate and conduct national-level programs such as training, research, consulting, exchange of faculty and students, staff development, collaborate together in the organisation and participation in exhibitions, trade fairs, symposia, conferences or similar events, and provide appropriate recommendations to the respective governments.

“Both organizations are committed to explore opportunities for the development of medium, small and micro enterprises (MSMEs) by inviting delegates at the conference, visits, observations; help entrepreneurs of both the countries develop relations, networking and business; and invite intellectual and professional members to present a technical paper or participate in the national and international conference organized by both institutions as appropriate in the areas of interest of the both organization.”