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Nepal, China Sign Off Letter Of Exchange On Zero Tariff
By KTM Mero Reporter
November 12, 2012: Secretary to the Ministry of Commerce and Supplies, Lal Mani Joshi, and Chinese Ambassador to Nepal Yang Houlan signed off a deal on allowing 7,787 items covering all the major exports of Nepal to China free of tariff according to the news posted on the Chinadaily.com.cn today.
Speaking at the signing ceremony, Nepalese Secretary to the Ministry of Commerce and Supplies, Lal Mani Joshi said that such support would be very useful, and many more potential trade opportunities between the two neighboring countries would open soon. "The main facilitating factor for bilateral trade is development of infrastructure," said Joshi.
"China values its friendly relations and economic ties with Nepal and has been supporting Nepal in its economic growth by every possible means," said Chinese Ambassador to Nepal Yang Houlan at the signing ceremony. He assured the Nepalis that China would continue to provide Nepal with the support for its economic growth by expanding the coverage of the duty-free benefits in coming days.
"Chinese market offers Nepal excellent potential for increasing export, and Nepal as one of China's important trading partner is able to tap export potentials," said Ambassador Yang.
Chinese trade statistics show that the trade between the two countries has increased significantly this year. China has been importing more and more products from Nepal.
