Strengthening Nepal-Portugal economic ties for FDI and remittance growth

Economic relations between Nepal and Portugal have been advanced through a high-level meeting held between Chandra Tandon, founder of City Express Money Transfer and chairman of the CNI Global Business and Diaspora Committee, and Prakash Mani Paudel, ambassador of Nepal to Portugal.

The meeting has been viewed as an important step toward deepening bilateral cooperation, with discussions focused on foreign direct investment (FDI), technology transfer, remittance mobilization, export promotion, tourism, and diaspora welfare.

Key Priorities for Economic Cooperation

Several strategic areas were identified during the discussion to support Nepal’s long-term economic growth and strengthen engagement with the Nepali community in Portugal.

FDI and Technology Transfer Prioritized

Special emphasis was placed on attracting foreign direct investment into Nepal, particularly in productive sectors that could benefit from European technology and expertise. It was stressed that technology transfer would play an important role in improving industrial capacity, enhancing competitiveness, and supporting modernization within the Nepali economy.

Productive Use of Remittances Highlighted

The need to channel remittances through formal and productive networks was also strongly emphasized. With support from the Confederation of Nepalese Industries (CNI), discussions were centered on encouraging remittance flows to be directed beyond immediate consumption and toward long-term, high-impact investments.

Chiranjibi Adhikari, Advisor to the Nepal Chamber of Commerce IT Committee, described the initiative as a milestone for improving remittance services and accelerating digital transformation within the sector. Greater access to remittance services in rural Nepal, along with the use of fintech for better efficiency and transparency, was highlighted as a major priority.

“Brand Nepal” and Export Promotion Discussed

A roadmap was also discussed for introducing Nepali products to the Portuguese market. Through closer coordination between the Nepali Embassy and CNI, efforts are expected to be made to build a sustainable trade bridge that can provide greater international exposure for Nepali small and medium enterprises.

It was noted that the promotion of “Brand Nepal” would help create opportunities for domestic products to gain visibility and market access in Europe.

Nepal to Be Promoted as a Premier Tourism Destination

Tourism promotion was also identified as a major area of cooperation. Both sides agreed that Nepal should be positioned as a premier destination for international travelers, particularly in the European market.

The proposed strategy was centered on Nepal’s strengths in adventure tourism, cultural heritage, and spiritual tourism. Nepal’s mountain landscape, historical legacy, and reputation as a destination for wellness, meditation, and spiritual retreats were seen as important assets that could be promoted more effectively in Portugal.

Welfare of Nepalis in Portugal Reaffirmed

Ambassador Paudel reaffirmed the embassy’s commitment to the welfare and rights of the Nepali community living in Portugal. Ongoing efforts by the embassy to address local challenges, safeguard migrant workers, and strengthen welfare support were also underscored.

It was stated by Ambassador Paudel that proactive efforts are being made not only to support the Nepali community in Portugal but also to promote Nepali goods more effectively within the Portuguese market.