Kathmandu, May 10
Nepal has asked the European Union to help in its “smooth and irreversible graduation” from the LDC status.
Addressing the closing session of the first EU-Nepal Business Forum in Kathmandu on Tuesday, Industry, Commerce and Supplies Minister Ramesh Rijal said, “We look forward to the support from Europe to assist us in making a smooth and irreversible graduation. We have been continuously reforming trade and investment policies and are always open to suggestions from stakeholders.”
The United Nations has already recommended Nepal’s graduation from the status of a least developed country into a developing one after 2026.
Minister Rijal also conveyed the government’s commitment to mitigating short-term challenges in the journey towards graduation from the LDC status, according to a press release by the EU Delegation in Nepal.
The closing session on economic diplomacy was addressed by ambassadors of EU member states and trade representatives, both in-country and those based in New Delhi, India.
“This was a unique opportunity to show European unity and strength in support of Nepal,” said Nona Deprez, the EU ambassador to Nepal.