A Joint Business Council between Nepal and Qatar has been established, which includes the private sectors of both the nations.

An agreement was reached between the two chambers on Wednesday for the establishment of a council headed by President of Federation of Nepalese Chambers of Commerce and Industry, Chandra Prasad Dhakal and President of Qatar Chamber, Sheikh Khalifa Bin Jassim Al Thani.

The agreement was signed by FNCCI President Dhakal and President of Qatar Chamber, Sheikh Khalifa Bin Jassim Al Thani in the presence of Emir Sheikh Tamim bin Hamad Al Thani of Qatar and Prime Minister of Nepal Pushpa Kamal Dahal 'Prachanda'.

The council will work in the areas of business expansion, investment promotion, technology transfer and tourism promotion, according to FNCCI.

The Joint Business Council will be a permanent mechanism for dialogue with Qatar, a Gulf country experiencing rapid economic growth.

The purpose of the Joint Business Council is to increase cooperation and understanding between the private sectors of Nepal and Qatar.

The council will play an effective role in attracting investments from Qatar and also expanding trade with the Gulf nation, which is known as a work destination for Nepalis.

There is a high demand for agricultural products, water, herbs, spices and spice products in the Gulf countries. As Qatar is an investment destination due to its rapid economic expansion, the Joint Business Council will play an effective role in attracting investments in Nepal.

The Council will also work in the field of tourism promotion.

After the establishment of the Council, cooperation between the two chambers is expected to further intensify and presidents of both the chambers are of the opinion that it will help in investment and business expansion.

"This agreement will further increase cooperation in the coming days," said Sheikh Khalifa Bin Jassim Al Thani, President of the Qatar Chamber.

Meanwhile, FNCCI President Dhakal said that there would be more initiatives taken through the council to increase cooperation between Nepal and Qatar.

"The council will continue to work to benefit Nepal from Qatar's rapid economic development," said Dhakal.

He added that the establishment of the Joint Business Council would help in attracting more investments in hydropower, tourism infrastructure, agro-processing and information and communication technology sectors.

In addition, the agreement between FNCCI and Qatar Chamber has also been renewed.

The new agreement was signed by FNCCI President Dhakal and Qatar Chamber President Sheikh Khalifa Bin Jassim Al Thani.

This agreement was also signed in the presence of Sheikh Tamim Bin Hamad Al Thani, Amir of Qatar, and Prime Minister of Nepal Pushpa Kamal Dahal 'Prachanda'. The first agreement between FNCCI and Qatar Chamber was made in 2005.

Since then, the two chambers have been cooperating in various ways for investment and business promotion.