December 10, 2018 09:56 AM NPT
KATHMANDU, Dec 10: The 12th Annual General Meeting of European Economic Chamber (EEC) Nepal held in Kathmandu on Friday has approved the chamber's annual plans and programs for 2019.
According to a statement issued by the chamber, the meeting held a discussion on ways to help Nepali exporters to cash in on favorable trade scheme offered by the European Union (EU) -- Everything but Arms (EBA. "Under the EBA scheme, EU offers zero customs tariff and no quota restrictions to Nepali exports," it added in the statement.
EU is the second largest export market for Nepal with a 13 percent share in total exports, while it is the country's fourth major import market. According to the chamber, Nepal-EU bilateral trade was worth 233 million euros in 2016, including Nepali exports worth 96 million euros, resulting in a trade deficit of 41 million euros for Nepal.
"The AGM noted that Nepal's export to EU has stagnated over the last decade and called for an increased investment in infrastructure, easy access to market coupled with wider range and quantity of exportable products," the chamber said in the statement. The AGM also called on the European Union to consider favorably in lifting the ban on Nepali air carriers to fly in the European airspace ahead of Visit Nepal Year in 2020.