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Nepalese And Chinese Business Organizations Sign MoU
By KTM Metro Reporter
December 21, 2010: Acting President of Confederation of Nepalese Industries (CNI) Narendra Kumar Basnyat and Chairman of China Council for Promotion of International Trade (CCPTI) Wan Jifei have signed off a Memorandum of Understanding (MoU) on the promotion of trade and industry between the two countries in Kathmandu on Monday afternoon, December 20, 2010, the state-run news agency of China, Xinhua reports.
CNI is the association of Nepalese industrialists whereas CCPIT is an apex business organization of China.
Speaking at the function held to sign the MoU, Chinese Ambassador to Nepal Qiu Guohong has said that the business community and businessmen from both China and Nepal have brainstormed solutions to achieve a common development goal to survive the global economic recession last year. "The two governments worked out policies and measures to promote bilateral economic cooperation and trade," the Chinese ambassador said.
Ambassador Qiu Guohong said, "China's policy to offer zero- tariff treatment to Nepalese commodities means that China's market is open to Nepal. China-Nepal trade has exceeded US$ 257 million in the first ten months of this year registering an increase of 76 percent compared to the same period last year."
Chairman of the CCPTI Wan Jifei leading the 60-member business delegation from China to Nepal has said that the economic ties between Nepal and China have maintained momentum in the recent years. "Nepal has many potentials in the agriculture, hydropower and tourism sectors, thus, we are encouraging Chinese companies for investments in Nepal," he said.
