Kathmandu— In a world where mutual cooperation is paramount, Nepal is focusing on enhancing its economic diplomacy to secure greater benefits from international relations. Minister for Foreign Affairs Shisir Khanal emphasized the need for clear priorities and effective handling of geopolitical challenges during a recent address at the Economic Diplomacy Division’s function.

Economic Diplomacy as Key Component

Nepal’s foreign policy includes economic diplomacy, which encompasses aid, grants, financing, foreign trade, and foreign direct investment. The country aims to increase its participation in international assistance and trade negotiations under the World Trade Organisation (WTO). Khanal noted that Nepal must define clear priorities to address current geopolitical challenges effectively.

Strategic Action Plans for Maximum Benefit

The Foreign Ministry is developing country-specific strategic action plans to ensure Nepal secures maximum benefits from its relations with individual countries. These plans will prioritize sectors for cooperation and require accurate data on Nepali populations in different nations. The ministry aims to leverage the positive image of Nepal among nations to explore comparative advantages in export items.

Originally published on abcnews.com.np.