Nepal-China economic ties will reach new heights: Minister Bhandari

KATHMANDU: Minister for Industry, Commerce and Supplies, Damodar Bhandari, has stated that trade relations between Nepal and Tibet, the autonomous region of China, will reach new heights in the coming days. 

Minister Bhandari made this statement during his address at the opening ceremony of the 17th Nepal-China (Tibet) Economic and Trade Fair, organised by the Trade and Export Promotion Centre (TEPC) in Bhrikutmandap, Kathmandu today. 

He recognised China as a longstanding trade partner for Nepal, stating, "The trade and economic relations and cultural ties between Nepal and China are as towering as the Himalaya." 

He noted that the high terrains and challenging topography have never hindered the trade relations between Nepal and China, adding that "Our ancestors utilised such perceived challenges as opportunities to promote the trans-Himalaya trade relations when the means of modern transport were not available." 

He said Nepal and China always treat and recognise themselves as friends through thick and thin, 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 utilise this moment to reiterate Nepal's commitments by heart, words, and actions to its unity and integrity." 

He expressed his hope that the escalating railway connectivity and economic boom in China will cross the Himalayas in the future. He also anticipated China's support in reducing Nepal's increasing trade deficit with its northern neighbour. 

Expressing that the fair will be an important means to promote trade between the two countries, he said, "This kind of trade fair will also help to increase trade between our two neighbouring 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, emphasised the trade relations between Nepal and Tibet. He suggested that businesspersons of the two countries cooperate in import and export by establishing good business relations.

MoICS Secretary 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 in Nepal to produce export goods to reduce Nepal's trade deficit with China.

TEPC Executive Director 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 kicked off today, will continue until May 4. There are 50 Chinese and 15 Nepali business stalls at the fair. About 40 types of exportable goods from Nepal to China have been showcased at the Nepali stalls.

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