Nepal-China economic relations tall as Himalayas: Minister Bhandari «

Nepal-China economic relations tall as Himalayas: Minister Bhandari

Kathmandu- Minister for Industry, Commerce and Supplies, Damodar Bhandari, has said the trade relations between Nepal and Tibet, the autonomous region of China, will find a new height in the days to come.

In his address to an opening of the 17th Nepal China (Tibet) Economic and Trade Fair organised by the Trade and Export Promotion Center at Bhrikutmandap today, the Minister said this. He acknowledged China as a longstanding trade partner for Nepal.

The trade and economic relations and cultural ties between Nepal and China are as towering as the Himalaya.” The high terrains and challenging topography have never hindered the trade relations between Nepal and China, he said, adding that ” Our ancestors utilized such deemed challenges as opportunities to promote the trans-Himalaya trade relations when the means of modern transports were not available.”

He said Nepal and China always treat and recognize themselves as friends of happiness and sadness, adding that China’s stability, unity, and prosperity are always the wish of Nepal. ” Nepal is always committed to a One-China policy and I utilize this moment to reiterate Nepal’s commitments by heart, words, and actions to its unity and integrity.”

He expressed his hope that an escalating railway connectivity and economic boom in China will cross the Himalayas in the future. He also expected the support of China to reduce the increasing trade deficit of Nepal with the northern neighbour.

Expressing that the Fair will be an important means to promote trade between the two countries, he said, “I hope that this kind of trade fair will also help to increase trade between our two neighboring countries and will be beneficial for the business community to find new buyers, new markets and new business destinations.”

Deputy Head of the People’s Government of the Tibet Autonomous Region, Lan Fuquan, emphasized the trade relations between Nepal and Tibet. He suggested that businessmen of the two countries cooperate in import and export by establishing good business relations. Secretary at the Ministry of Commerce Dinesh Kumar Ghimire said that trade relations between the two countries will accelerate if exports can be managed.

He urged Chinese investors to establish industries here to produce export goods to reduce Nepal’s trade deficit with China. Executive Director of Trade and Export Promotion Center, Sharad Bikram Rana said earlier that according to the Memorandum of Understanding between Nepal and China (Tibet) dated 1990, the Fair is being held alternately with the Nepal Tibet Economic and Trade Fair with the aim of further expanding economic and trade relations between Nepal and China (Tibet).

He expressed his belief that Nepali exporters will use this Fair as an important opportunity to export their goods to China through the concessional system of zero customs rate and will have fruitful business with the business community in Tibet to promote their business. The Fair, which started today, will continue till May 4. There are 50 Chinese and 15 Nepali business stalls in the fair. About 40 types of exportable goods exported from Nepal to China are kept in the Nepali stalls.