Prachanda says Nepal committed to ensure investor security

New Delhi, Sept 15 : Nepal's Prime Minister Prachanda today said that his government is committed to create an investor-friendly environment in his country.

Addressing a luncheon meeting organised by the Indian industrial organization, namely the CII, FICCI and ASSOCHAM here, Prachanda said, "We will do all we can to ensure industrial security in Nepal."

"The Nepal Government remains committed to adopt every possible measures to provide investors necessary security," he added.

Prachanda also said one could not compare his country's relations with India and China.

"Due to specific cultural, historical and tradition of economic interdependence, relations with India are crucial and vital...although we also want to develop relations with China. They cannot be compared right now and there is no question of comparison."

Earlier, External Affairs Minister Pranab Mukherjee said that Indian government will support the peace process in the newly elected democratic republic of Nepal.

Talking to reporters after the meeting with Prachanda, Mukherjee said: "We do believe that we cannot prosper alone in isolation. We shall have to move along with our neighbours particularly with Nepal. We have historic relationship over centuries, keeping that in mind we discussed various aspects of the issues. We reiterate our support to the people and newly elected government of Nepal."

Prachanda, who is on a five-day visit to India called on President Pratibha Patil at the Rashtrapati Bhawan.

He will hold discussions with Prime Minister Dr Manmohan Singh on various bilateral and regional issues in the evening.

During his talks, Prachanda will aim to review the 1950 Indo-Nepal Trade and Transit Treaty, besides crisis over the Saptakoshi embankment and other agreements.

Prachanda is scheduled to meet UPA chairperson Sonia Gandhi, Railway Minster Lalu Prasad Yadav, Janata Dal (United) president Sharad Yadav, and Nationalist Congress Party (NCP) chief Sharad Yadav, besides former prime ministers VP Singh, Dewe Gowda and Atal Bihari Vajpayee.

Prachanda is accompanied by a 44-member delegation on his maiden visit to India after becoming the Prime Minister.

Prachanda's visit will end on September 18.

ANI