“The envoy has assured that Brazil will set up its residential embassy in Nepal by 2011,” said the prime minister´s foreign relations advisor Milan Tuladhar. [break]
The envoy arrived in Kathmandu from New Delhi to make a farewell call to the PM. Brazil had assured that it would also establish its mission in Kathmandu in reciprocal manner after Nepal established a mission in Brazil about two years ago.
Officials believe that the establishment of Brazilian embassy in Kathmandu could bolster Nepal´s economic ties with one of the fastest growing economies in the world. Currently, Brazilian economy is the world´s eighth largest economy by nominal GDP and the seventh largest by purchasing power parity. Brazil is described as one of four rising big economies in the world, popularly touted as BRIC i.e. Brazil, Russia, India and China.
According to Tuladhar, an Agreement on Economic and Technical Cooperation between Nepal and Brazil is ready to be signed. The signing of the agreement was stalled after Maoist Chairman Pushpa Kamal Dahal collapsed over the dismissal of then army chief Rookmangud Katawal back in May, 2009.
The Brazilian envoy expressed confidence that establishment of a residential embassy and signing of Economic and Technical Cooperation Agreement would help promote relation between the two countries.
“Brazil would like to cooperate in the fields of agriculture and power generation in Nepal,” Tuladhar quoted Brazilian envoy as saying.
The envoy also assured that he would make necessary arrangements for feasibility study by Brazilian investors to look for investment opportunities in Nepal.
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