The event, which has been organized at a time when Nepal is facing burgeoning trade deficit with the second largest economy in the world, has on display Nepali wooden products, handicrafts, metal crafts, carpets, herbs and thanka paintings, among others. [break]
Chinese entrepreneurs have exhibited wide range of Tibetan carpets, incense s, garments, shoes, medicines and medical equipments. Drinking water companies, brewing companies and Bank of China too are demonstrating their products. The fair has a total of 80 stalls -- 40 each from Nepal and China -- and participating entrepreneurs said they hope to make good business as well as establish long-term business partnership in Nepal through the fair.
Minister for Labor and Transport Management Lekh Raj Bhatta and Wu Yungile, executive vice-chairman of Tibet Autonomous Region (TAR) of China jointly inaugurated the fair.
“This kind of event has proved beneficial in promoting trade and economic relations between Nepal and Tibet Autonomous Region of China,” said Bhatta, expressing hope that the event would help boost Nepal´s exports to China and contribute to narrow down the country´s trade deficit with the northern neighbor. Bhatta also emphasized the need to set up basic infrastructures for trade promotion to bring down trade deficit in favor of Nepal.
Wu Yingjie, executive vice-chairman of TAR of China, said event like these not only solidifies the traditional friendship between China and Nepal but also plays a significant role in developing bilateral trade as well as promote economic growth and social progress.
Purushottam Ojha, secretary at the Ministry of Commerce and Supplies (MoCS), underlined the need to utilize zero-tariff facilities provided by China on Nepali goods to boost exports to China.
Despite continuous rise in bilateral trade, Nepal has been facing trade deficit of around Rs 44 billion a year with China.
According to Trade and Exports Promotion Committee (TEPC), Nepal exported goods worth Rs 746 million to China during 2010/11, down from Rs 1 billion of exports recorded a year earlier. It imported goods worth Rs 45.63 billion from the northern neighbor during the period, up from Rs 39.21 billion recorded a year earlier.
Nepal imports large volume of products such as electrical goods, machinery parts, transport equipments, industrial raw materials, telecom products, agricultural goods and garments among others from China.
TEPC, which is coordinating the event, is expecting total turnover of Rs 60 million during the five-day event.
Related story
Cooperation for trade
-1200x560-1779899638.webp)
-1779842101.webp)
