Turkish businesses are working on improving trade ties with Nepal, a top Turkish trade group said.

The aim is to increase the bilateral trade volume to $200 million (TL 3.01 billion), up from its current level of $70 million-$80 million, said Mustafa Akıncılar, chairperson of the Turkey-Nepal Council of the Foreign Economic Relations Board of Turkey (DEIK).

Touching on a recent visit of Turkish businesspeople to Nepal, Akıncılar said cultural activities play a vital role in boosting bilateral trade.

"We paid a five-day visit for the improvement of cultural relations between Turkey and Nepal. It was an event on the purpose of boosting tourism and trade," he said.

Akıncılar underlined the importance of contacting banks to increase the exports of precious metals, adding that Nepalese are eyeing further investments in iron and steel.

The free zones in southern Nepal offer great investment opportunities for Turkish businesses, he said.