Nepal-EU Relationships in Brief:

1. Diplomatic relations between Nepal and the EC were established in 1973. The then EEC joined Nepal Aid Group in 1982. Nepal-EC Economic Cooperation meeting took place in 1992 for the first time. It was institutionalized at Joint Commission level since 1996. Six Joint Commission Meetings have been held so far, the last one was held in Brussels in January 2009.
2. EC has been an important partner in the social and economic development process of Nepal. Over the period of time, EC has extended support for the implementation of programmes in the areas of poverty reduction, integrated rural development, environmental conservation and sustainable development, basic and primary education, urban development, conflict mitigation and peace building, and so on.
3. The EU is an important trading partner for Nepal. Around 37 percent of the total overseas exports of Nepal are with the EU, whereas the imports are to the tune of 10.27percent. Nepal’s total trade with EU in the fiscal year 2007/2008 was worth 150 million euro, of which exports were worth 62 million euro and imports worth 88 million euro.
4. As an LLDC Nepal is eligible to the facility provided under the ‘Everything but Arms’ (EBA) Initiative of the EU. There is also an arrangement for derogation from the Rules of Origin for certain categories of apparel products from Nepal.
5. The relationships between EU and Nepal have been marked by friendship, understanding and cooperation.