The expo is being organized to promote economic, trade, cultural and academic exchanges and cooperation between South Asian countries and China, especially the Yunnan Province.[break]
Li Jiang, vice governor of China´s Yunnan province, formally announced the expo amid a program on Monday. According to Li, 21st China Kunming Import and Export Fair will also be held on the sidelines of the expo.
Speaking at the program, Lal Mani Joshi, secretary at the Ministry of Commerce and Supplies, said Nepal and China has many similarities in terms of economic, cultural and social values. Saying that events like this help further strengthen relation between Nepal and China, Secretary Joshi confirmed Nepal´s participation in the expo.
“Nepal can learn a lot from China,” Joshi said, adding: “Participation in the expo will also help us gauge the export potential of Nepali products in China and ultimately help us reduce the ballooning trade deficit between the two countries.”
Anoop Ranjan Bhattarai, president of Nepal-China Executive Council, said Nepal will have 85 stalls at the expo. “Nepali businessmen participating in the expo will be exhibiting statues of Lord Budhha and other gods and goddesses, thanka paintings, singing bowls, copper and metal products, pashmina, organic tea and coffee, herbal products, and handicraft among others,” Bhattarai said.
Though Nepal is facing trade deficit with China, Jiang said the country is enjoying trade surplus with Yunnan province. “Total trade between Nepal and Yunnan province stood at US$ 3.5 million last year,” he added.
According to Trade and Export Promotion Center (TEPC), Nepal exported goods worth Rs 985.69 million to China and imported goods worth Rs 52.92 billion from the northern neighbor in fiscal year 2011/12. Similarly, the country´s exports to China stood at Rs 1.62 billion over the first eight months of current fiscal year. Nepal imported goods worth Rs 46.52 billion from China during the period.
Suraj Vaidya, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said a delegation of FNCCI will visit China to participate in the expo.
“The event will help Nepali businessmen to explore opportunities for exporting goods to China as well as to bring Chinese investment to Nepal,” he added.
Speaking at the program, Di Rong, economic and commercial counselor at the Chinese embassy in Kathmandu, highlighted contribution made by China in Nepal´s hydropower, infrastructure development and other sectors.
Various events like China-South Asia Business Forum, China-South Asia Investment Promotion, China-South Asia Ministerial Consultation Meeting, and Fifth GMS Economic Corridor Week, among others would also be held on the sidelines of the expo.
Related story
China South Asia Expo(Photo feature)
