KATHMANDU, Nov. 22 (Xinhua) -- The Nepal-China Chamber of Commerce and Industry (NCCCI) and China Council for the Promotion of International Trade Foshan Committee (CCPIT Foshan) signed a Memorandum-of-Understanding (MoU) here on Friday agreeing to facilitate trade and business in the two places.

     President of CCPIT Foshan, Xie Weixiong, and NCCCI Chairman Rajesh Kaji Shrestha signed the understanding on behalf of their parties, amid high hopes of better bilateral relationship.

     According to the understanding, both the parties will do their best to promote, strengthen and expand trade, economic, technological cooperation and other business activities. They will also exchange information on commerce, industry and economy.

     The two parties will assist their members in establishing and strengthening business contacts by organizing events such as conferences, seminars, study tours, exchange of trade groups and participation trade fairs.

     Following the signing ceremony, Shrestha said that understanding between the two parties will play a great role in increasing business activities between Foshan and Kathmandu. He requested the delegation to promote Nepali handicrafts, Nepal's chief export to China, as much as possible in Foshan. Similarly, Xie said that his team comprised of business people working in various sectors and they would do their best in their respective fields to flourish trade activities between the two places.

     Established in 1999, the NCCCI has its branches in 12 places around the country. In the last 14 years, NCCCI has signed MoU with 18 trade councils of China.