The fair, which is being organized by the Ministry of Commerce and Supplies (MoCS), will feature forty stalls from each country showcasing different varieties of exportable products.[break]
Ramesh Shrestha, executive director of Trade and Export Promotion Center (TEPC) - the coordinator of the fair, said the five-day event is expected to record transactions worth Rs 50 million.
Toya Narayan Gyawali, joint-secretary at the MoCS, said the fair will be instrumental in facilitating trade between Nepal and China. “It will serve as a common forum for potential buyers and sellers of exportable goods of both the countries,” added Gyawali.
A 19-member Chinese delegation led by Wu Xingjie, executive vice-chairman of Tibet Autonomous Region of China, is arriving Kathmandu on Tuesday to participate in the fair.
The delegation is also scheduled to hold talks with Prime Minister, Commerce and Supplies Minister, Home Minister, Foreign Minister, and other high ranking government officials.
More than 60 Chinese traders are already in Kathmandu to attend the fair.
Nepal is facing huge trade deficit with the northern neighbor -- the world´s second largest economy -- despite continued rise in trade volume. Weak supply capacity of Nepal, imposition of local tax by Chinese authorities and problem in communication between traders from both the countries are the major problem facing Nepali traders.
Nepal exported goods worth Rs 746 million to China during 2020/11 fiscal year, a sharp drop from Rs 1 billion of exports recorded a year earlier.
Similarly, it imported goods worth Rs 45.63 billion from the northern neighbor during the period, up from Rs 39.21 billion recorded a year earlier.
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