KATHMANDU: The Nepal Chamber of Commerce and the Spanish Chamber of Commerce have agreed to formalize a Memorandum of Understanding (MoU) by late 2026 or early 2027 to significantly boost bilateral trade, investment, and private-sector exchanges.

The agreement was reached during a high-level meeting at the Chamber building in Kathmandu between NCC officials and a visiting Spanish delegation led by Inmaculada Riera i Reñé, the Director General of the Spanish Chamber of Commerce.

Both sides noted that Nepal’s growing political stability and strategic location between India and China make it an increasingly favorable environment for European investors.

As an immediate next step under the upcoming pact, the Spanish Chamber announced plans to dispatch a high-level business delegation comprising eight to nine prominent Spanish companies to Nepal around February–March 2027.

This visit will feature a bilateral business forum designed to connect entrepreneurs and explore fresh commercial ventures.

The two organizations identified several priority sectors for joint investment, including renewable energy (hydro, solar, and wind), smart city development, transport infrastructure, water management, tourism, and food processing.

Beyond direct investments, the discussion focused on leveraging trade opportunities, navigating current European Union-India trade talks for Nepal’s benefit, and simplifying business visa processes.

While Nepal offered high-potential exports such as orthodox tea, organic coffee, pashmina, large cardamom, and handmade crafts, Spain expressed readiness to share its advanced technology and technical expertise in modern agriculture, irrigation, medical equipment, and clean energy systems.

Both chambers committed to driving economic growth through active participation in international trade fairs across Kathmandu, Madrid, and Barcelona, alongside expanding digital trade infrastructure.