Business Council welcomes democratic rule in Nepal

BUSINESS COUNCIL: The Sri Lanka - Nepal Business Council is encouraged by the recent developments in Nepal.

The restoration of democracy and the reconvening of Parliament in Nepal is a direct result of the determination and the will of Nepal's citizens to regain their democratic rights.

After a decade of violence, social unrest and a host of other ills, Nepal can now look forward to a peaceful period, President, Sri Lanka - Nepal Business Council, Jagath Savanadasa said.

As a result of the persistent drawbacks that Nepal faced as a nation, the country was further impoverished and the economic activities had declined steeply. This is one of the most serious repercussions of civil unrest and instability in any nation.

This council which was formed at the behest of the Nepal Embassy in Colombo had during the last five years made many attempts to promote interaction with the business communities of the two countries. But our constant efforts met with little success owing to the virtually total disruption of the Nepalese economy and also private sector activity, which was at a standstill.

"We have already identified a number of areas in which Sri Lanka's business sector could collaborate with the parallel sector in Nepal.

A number of solid contacts have been established over the years and we believe that it is time to reactivate relations with the business community. This council will shortly give a fresh start to its programme of promoting ties especially in fields such as tourism, trade, communication technology and a host of other areas which have great potential for joint collaboration between Sri Lanka and Nepal.

Nepal also has an attractive foreign investment package in place but this had not been exploited sufficiently owing to the insurgency.

Whilst our sincere good wishes are extended to the Kingdom of Nepal, we are confident that the restoration of peace will usher a new era of growth and prosperity to the country, which would inevitably lead to an economic revival.