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Using Trade Benefits Provided By China
By KTM Metro Reporter
September 14, 2011: speaking at a program on "Public-Private Dialogues on Trade Issues and Reporting System on Trade with China," held in Kathmandu yesterday, Secretary to the Ministry of Commerce and Supplies (MoCS) Purushottam Ojha has said that Nepal now needs to effectively use the trade benefits provided by China to mitigate the trade deficit Nepal has with China, ‘The Rising Nepal’ of today writes.
The Nepal’s trade deficit with China has been around Rs.42 billion during the fiscal year 2010. Nepal has imported Rs. 43 billion worth of goods from China while Nepal has exported Rs.1.5 billion worth of goods to China during the same period, Secretary Ojha has said.
Even though Nepal and China had signed MOU for exporting around 4,721 Nepalese products to China at zero tariff, Nepalese exporters could not have used such provision and take the benefits of the Chinese good will toward Nepal.
At the same time, in a bid to promote Nepal’s trade relations with China and South Asian countries, the Nepal China Executive Council (NCEC) is holding the Sixth South Asia and China Trade Fair of 2011 at Bhrikutimandap Exhibitions Center, Kathmandu from September 15 to 19, 2011.
According to NCEC, around 10-15 Chinese companies and around 20 companies from South Asian countries such as Myanmar, Sri Lanka and Bangladesh will participate in the trade exhibitions. Around 30 Pakistani companies and 10 Indian companies put up their stalls at the trade exhibitions.
The Trade and Export Promotion Committee of the Federation of Nepal Chamber of Commerce and Industry (FNCCI), Nepal Tourism Board (NTB), G-Five Mobile are the cosponsors of the trade exhibitions.
