Nepal, Finland ink economic agreement

Kathmandu, Feb 4 (ANI): The Nepal Government and the Republic of Finland on Tuesday signed a bilateral agreement for the protection and promotion of investment as well as promotion of mutual economic cooperation.

The agreement will stimulate investment in respective countries. As per the agreement, investment shall not be confiscated or nationalised.

The prime tenets of the agreement are to allow, encourage and promote investment and to ensure returns on investments in an equitable manner.

Kantipur quoted Finance Secretary Rameshwor Khanal as saying that the agreement recognises the need to protect investment of investors with full security.

"We will have double digit economic growth in the country by the next three years," he added.

Minister of Foreign Trade and Development of Finland Dr. Paavo Vayrynen said the Finnish government is ready to help Nepal, despite the financial crisis in the international market. (ANI)