Emir of Qatar’s Visit to Nepal: A Gateway to Extend Investment Summit to the Middle East

Nepal and Qatar have shared diplomatic ties since January 21, 1977, marking a significant milestone in their bilateral relations. With the establishment of the Embassy of Nepal in Qatar in 2000, followed by Qatar opening its embassy in 2011, the foundation for enhanced cooperation between the two nations was laid. Over the years, several high-profile visits have further strengthened the bond between Nepal and Qatar, with both President Ram Baran Yadav and President Bidya Devi Bhandari having graced Qatar with their presence.

The upcoming visit of Emir of Qatar Sheikh Tamim bin Hamad Al Thani on Baisakh 11-12 is anticipated to bolster these ties, particularly in the realm of investment. His visit coincides with the government’s Investment Summit, hinting at a potential increase in high-level engagements between Nepal and the Middle East.

Qatar’s remarkable transformation into a developed nation over the past three decades, driven by visionary leadership and strategic utilization of natural resources, serves as an inspiration. Under the leadership of Emir Al Thani, Qatar has achieved significant milestones, including the successful hosting of the 2022 World Cup.

In response to challenges such as the 2017 blockade, Qatar has demonstrated resilience by adopting policies aimed at achieving self-sufficiency, particularly in food production. Noteworthy examples include Baldana, a dairy company that not only fulfilled Qatar’s dairy needs but also ventured into exports, with a market valuation of 80 billion Nepalese rupees.

Qatar remains a vital destination for Nepali labor, with remittances exceeding 1 billion annually and over 350,000 Nepalis contributing to Qatar’s development. As Qatar seeks to diversify its investments globally, Nepal stands poised to attract Qatari capital, especially in ventures involving returned Nepali workers transitioning into entrepreneurship.

Furthermore, collaboration in tourism and investment holds immense potential. Nepal’s scenic beauty and cultural heritage make it an attractive destination for Qatari investment in luxury tourism infrastructure, facilitated by agreements with the Investment Authority.

Amidst global economic challenges, Nepal looks to Qatar for investment promotion and cooperation on issues like climate change. As Nepal assumes the chairmanship of underdeveloped countries, there’s an opportunity to engage with Qatar in enhancing productive capacities and bilateral trade, which currently accounts for less than 1 percent of Nepal’s foreign trade.

By leveraging Qatar’s market for organic agricultural products and exploring avenues for customs concessions, Nepal aims to expand its exports, thereby fostering mutually beneficial economic cooperation between the two nations.