At a meeting with the delegation led by Liu Qi, Member of the Political Bureau of the Central Committee of the Communist Party of China and Secretary General of the Communist Party of China, Beijing Committee, on Monday, Minister for Commerce and Supplies (MoCS) Lekha Raj Bhatta urged China to increase its investments in Nepal and support Nepal to boost exports to China by removing existing procedural hassles.[break]
According to Toya Narayan Gyawali, joint-secretary at the Ministry of Commerce and Supplies (MoCS), Bhatta asked the delegation for more Chinese investment in agriculture, medicinal herbs and hydropower.
Bhatta also asked the northern neighbor to support in boosting Nepali exports to the world´s second largest economy by removing non-tariff barriers including procedural problems in quarantine checking of Nepali exportable goods.
Bhatta also sought Chinese support in strengthening customs infrastructures and building Nepal´s capacity to properly utilize zero-tariff facilities being offered by China to 361 Nepali exportable goods.
The Chinese delegation assured full cooperation to promote exports of Nepali goods to bring down Nepal´s burgeoning trade deficit with China and advised Nepal to take advantage of the rapidly growing Chinese economy. Nepal had imported goods worth Rs 45.63 billion from the Asia´s largest economy against exports worth Rs 746 million during the fiscal year 2010/11.
Nepal-China business pact inked
Meanwhile, Nepal-China Chamber of Commerce and Industry (NCCI) and China Council for Promotion of International Trade (CCPIT) have inked a pact for promoting investment and expansion and diversification of trade between the two countries.
A Memorandum of Understanding (MoU) was signed by Rajesh Kaji Shrestha, president of NCCI, and Ni Yuegang, deputy-chairman Beijing Sub-committee of CCPIT. The agreement envisages increasing exchange of visits by business people to enhance trade relations and settle trade-related disputes between the two countries.
A press release issued by NCCI said the agreement was signed in the presence of Liu Qi, Member of the Political Bureau of the Central Committee of the Communist Party of China and the Secretary General of the Communist Party of China, Beijing Committee, Minister for Commerce and Supplies Lekha Raj Bhatta and Chinese Ambassador to Nepal Yang Houlan.
The pact includes the provisions of extending cooperation to each other in organizing workshops, seminars and other business meetings to boost and strengthen bilateral trade relations.
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