HE Mohamed Thani Al Rumaithi, Chairman of the Abu Dhabi Chamber of Commerce & Industry (ADCCI) has called for revitalizing ties of economic, commercial and investment co-operation between companies and businesses operating in both the Emirate of Abu Dhabi and Nepal.

“Figures of the two-way trade between the two countries are still modest and joint efforts must be exerted to increase them through agreeing upon a mechanism that would contribute to both the enhancement of economic and investment co-operation and expanding synergy between operating companies and firms,” Mr. Al Rumaithi said in the course of a meeting held with HE Mrs. Sujata Koirala; Nepal’s Deputy Prime Minister and Minister of Foreign Affairs, stressing the importance of exchanging trade delegations’ visits, setting up professional investment seminars and of taking part in exhibitions being held in either country.

Mr. Al Rumaithi welcomed the organization of a seminar on investment opportunities and climate in Nepal to be hosted by the Abu Dhabi Chamber within the forthcoming period  and expressed the chamber’s full willingness to provide all means and ways to make the event a success and to invite the Abu Dhabi-based economic community and businessmen to participate in its activities.

For her own part, the Nepalese Minister called upon companies, businesspeople and investors in the UAE to invest in her country, particularly in the field of infrastructure besides a number of important and economically feasible sectors.

The Nepalese Minister has also extended an invitation to the ADCCI Chairman and Board Members for paying a visit to Nepal so that they can be closely acquainted with existing investment opportunities and facilities being provided by competent bodies in Nepal for foreign companies and investors.

A meeting was also held by Mr. Al Rumaithi with HE the Algerian Ambassador to the UAE, Mr. Hamid Shubaira. During the meeting, opportunities for boosting fields of co-operation between small- and medium-sized companies in both the Emirate of Abu Dhabi and the Republic of Algeria have been explored.

Mr. Al Rumaithi underlined the importance of joint action for taking procedures that would reinvigourate bilateral terms of trade, providing integrated information to businessmen, companies, firms and investors in the UAE on the investment climate and available opportunities, procedures and facilities related to investment, in addition to all that which would reinforce UAE investments and help set up investment ventures in the Republic of Algeria in a manner that would be instrumental in reactivating economic and investment action between the two sisterly countries.

These two meeting were attended by HE Abdullah Sultan; Secretary General of the Federation of UAE Chambers of Commerce & Industry, HE Nasser Al Maamari and HE Huda Al Matroushi; ADCCI Board Members, along with Mr. Rashed Tarish Al Qubaisi, Executive Director for Business & Trade Development of the Abu Dhabi Chamber.

It is noteworthy that figures of the two-way trade between the UAE and the Republic of Algeria late in 2008 exceeded 1.3 billion dirhams, while the volume of UAE-Nepal terms of trade went up in the end of 2008 to 376 million dirhams compared to 30 millions in 2007.