EC-Nepal Cooperation Agreement
The European Commission and the Government of Nepal signed a cooperation agreement on 1 June, 1996.
The agreement laid down the basic framework of mutual cooperation in diverse areas: trade and commerce, energy, science and technology, agriculture, investment, human resource development, environment including exchange of cooperation at the regional level.
The main objectives of the cooperation were to secure the conditions and to promote the increase and development of two-way trade and investment between the two parties. The focus lay on supporting sustainable development of Nepal taking into account its current least developed status.
It also aimed at promoting economic, technical and cultural links in the mutual interest of the two parties. Support to environmental protection and sustainable management of natural resources were part of the objectives of the agreement among others such as developing the trading capacity of Nepal taking into account its landlocked nature
The European Community expressed its readiness in the cooperation agreement to contribute to Nepal's own efforts in achieving sustainable economic development and social progress of its people through specific projects and programmes,.
According to the conditions set, the agreement would be renewed automatically once in every five years unless one of the Parties denounces it six months before.Back to Political & economic relations