The five-day event will have stalls of eight countries
KATHMANDU, March 12: The fourth edition of Nepal International Trade Fair 2015 is beginning at Bhrikuti Mandap Exhibition Hall in Kathmandu on Thursday.
The five-day event is being organized jointly by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Trade and Export Promotion Center (TEPC). Prime Minister Sushil Koirala is scheduled to inaugurate the event.
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Speaking at a press meet in Kathmandu on Wednesday, FNCCI officials said all 340 stalls in the fair have already been booked.
The apex body of Nepali private sector has been organizing the event for the past four years with the aim to promote the export of 19 products -- 12 goods and seven services -- identified by Nepal Trade Integration Strategy (NTIS).
“Such events have proved fruitful for local industries to promote their products in domestic as well as international market,” Pradeep Jung Pandey, president of FNCCI, said, adding: “Private sector accounts for almost 72 percent of gross domestic product (GDP). Events like these help to strengthen private sector by promoting their products in domestic as well as international market.
Keshav Raj Pandey, chairperson of the Trade Fair Committee of FNCCI, said the event is being organized with the slogan of 'Showcasing Nepal'. “Though political situation is not that good, we believe that the fair will play a key role in promoting local products and services in domestic as well as international market," Pandey said.
According to the organizers, 92 stalls have been booked by Bangladeshi companies, 28 by Indian companies, 21 by Chinese and 22 by companies from Pakistan. Similarly, there will be two stalls of Bhutan and one stall each of Malaysia and Taiwan.
“We are hopeful that the event will also promote bilateral trade relations between Nepal and the participating countries,” added Pandey.
To promote herbal industry and products, the organizers have allocated 65 stalls for Nepali herbal companies. Other products being showcased by Nepali companies include handicraft, readymade garments, handmade carpet, and agro products as well as services like education, hydropower, and Information Technology.
Tej Singh Bista, deputy executive director of TEPC, said his organization was supporting FNCCI to organize the event as events like these help to minimize trade deficit. “According to conservative estimates, transactions worth Rs 2 billion are made in events like these annually," Bista said, adding, "Also such events encourage consumers to use local products. This helps to reduce import."
