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PM and Saudi prince agree to promote investment, economic cooperation and partnership

Foreign Minister of the Kingdom of Saudi Arabia Prince Faisal bin Farhan Al-Saud, has agreed to promote investment, economic coopeation and partnership between Nepal and Saudi  Arabia upon the request of Prime Minister Sher Bahadur Deuba.

Prince Faisal bin who was on an official visit to Nepal for two days returned back, after paying a courtesy call on Prime Minister Sher Bahadur Deuba.

During the meeting held at the PM’s residence at Baluwatar, various aspects of Nepal-Saudi Arabia relations, issues of mutual interest and concern as well as exchange of assistance in the multilateral forum were discussed. Expressing good wishes for the success of Saudi Vision 2030, PM and the Prince discussed ways to further strengthen the economic partnership and cooperation between the two countries in the interest of Nepali migrant workers.

Expressing the desire of the Government of Nepal to further strengthen the bilateral relations, Deuba urged to use the investment opportunities available in Nepal. He emphasized on trade, commerce and tourism promotion.

 

The Prime Minister expressed his gratitude to the Saudi government for providing goodwill, medical treatment and vaccination to Nepalis migrant worker as its own citizens during the Covid-19 epidemic. Stating that the development assistance received from Saudi Arabia has brought positive change to Nepal, Deuba urged the visiting FM to motivate private sector investors to invest in Nepal in the areas of tourism, construction of physical infrastructure and comparative advantage.

 

The PM also stressed on the need for a speedy labor agreement for the proper management of the problems faced by Nepalis workers in Saudi Arabia due to lack of proper and expeditious legal protection of foreign workers including protection of the rights. Saudi Arabia is one of the most preferred  foreign employment destination country amongst  Nepalis.

 

Taking the request of the PM positively, the Saudi prince praised the dedication, loyalty and honesty of Nepalis towards their work and said that the people-to-people relations between Saudi and Nepali have been strengthened and improved by the Nepali workers.

 

Delegation level talks were also held between the Foreign Ministers of the two countries today. The two Foreign Ministers discussed various areas of cooperative bilateral relations and stressed on the need to explore the possibilities of cooperation in the fields of foreign employment, interests of Nepali migrant workers, increase in the number of pilgrims, strengthening ties and mutual benefits. They agreed to exchange cooperation in economic partnership as well as in multilateral forum.

After the bilateral talks at the Ministry of Foreign Affairs, the two Foreign Ministers signed an agreement to enhance mutual cooperation. With the signing of the agreement, it has become easier for Nepal and Saudi Arabia to cooperate in the fields of communication, education, culture, industry and sports. The agreement will be implemented by bilateral agreement, according to MoFA. Foreign Minister Dr Narayan Khadka hosted a luncheon in honor of the Saudi Prince-led delegation.

 

Since the establishment of diplomatic relations between Nepal and Saudi Arabia on March 15, 1977, the cordial relations between the two countries have been further strengthened by such high level visits and bilateral relations have been strengthened on the basis of five principles of peaceful coexistence, friendship and cooperation. Both nations have expressed their unwavering commitment and allegiance to the principles of the United Nations Charter and have been working together in other international fora, including the United Nations, for the common good of mankind.

 

Relations between the people of the two countries have been growing since Nepali workers got employment opportunities in Saudi Arabia a decade ago. In the current context more than four lakh Nepalis are working in Saudi Arabia. The visit of the Foreign Minister is expected to increase the facilities and opportunities for Nepali migrant workers.

Nepal has received loan assistance from the Saudi Fund for Development for various hydropower projects including the Marsyangdi Hydropower Project and the fund has also made significant contribution in the construction of East-West Highway. Saudi Arabia is also assisting in the Bagmati Irrigation Project.

 

Prince Faisal bin had arrived here on a private plane from Sri Lanka on Monday evening, he left for Dhaka, Bangladesh today. He was seen off in a special room at Tribhuvan International Airport by Foreign Secretary Bharatraj Poudyal, Saudi Arabia's Ambassador to Nepal Musaid Suleiman M Al Marwani, Foreign Ministry officials and senior officials of the Saudi Arabian Embassy here.

Before leaving the country Prince Faisal bin had also paid courtesy call to President Bidhya Devi Bhandari.