Nepal, Feb. 9 -- St Kitts and Nevis, a small two-island nation in the Caribbean, once plagued with high public debt, decline of its outdated sugar industry, limited revenue sources and a weak domestic economy, today boasts a GDP of $1.1 billion. It also has a high literacy rate, a high quality of life and a favourable FDI structure that fosters steady economic growth. Nepal, in comparison, despite its rich natural resources, extensive hydropower potential, strategic location between India and China, a fairly large working population and increasing potential in the IT sector, remains heavily reliant on remittances and foreign aid.

According to the Nepal Rastra Bank, St Kitts and Nevis is one of the top five countries that sends foreign di...