KATHMANDU, AUG 13, 2012
Nepal is expected to raise the issues of reducing trade deficit between Nepal and China with top priority during a meeting of the Nepal-China Foreign Secretary Level Mechanism scheduled to be held in the capital on Monday.
Talking to RSS, Joint Secretary at the Commerce and Supplies Ministry Ngaindra Prasad Upadhyay said at the meeting, the Nepali side is expected to raise the issues regarding how to minimize an enormous trade imbalance between the two countries.
The Chinese side will be requested to make arrangements for smooth export of Nepali products to China, said Joint Secretary Upadhaya.
The State is responsible for ensuring duty free market and market facilitation, he said and stressed that the business community also pay a heed towards trade diversification since the conventional products are not sufficient for the development of trade sector.
According to Trade Promotion Center, annual trade deficit of Nepal with China stands at Rs. 45 billion. Nepal exports goods worth Rs. one billion to China every year.
Nepal imports cement, iron rods and noodles from Tibet, whereas it exports handicraft items, carpet, pashmina, silver ornaments, vegetable ghee and incense sticks to China.
Expansion of mutual contact, development of physical infrastructure, investment in hydropower sector, reopening of Kathmandu-Lhasa Bus Service, direct flights between different cities in the two countries and construction of a ring road in Kathmandu are other agendas of the meeting, it is learnt.
Providing soft loans for the Upper Trishuli-3 'A' Hydro Project and international airport in Pokhara are in the agenda of the meeting, the ministry said.
The Nepali team to be led by Foreign Secretary Durga Prasad Bhattarai will be accompanied by senior officers of the Ministries of Finance, Agriculture, Energy, Industry, Commerce and Supplies, Health, Home, Local Development, Education, Tourism and National Planning Commission (NPC).
As the meeting of the mechanism is regular, it will not take any decision and no agreement will be signed. It is learnt that the issues raised in the four- yearly meeting will be included in the future action plan by the officials of both the countries.
Source: THT
Nepal is expected to raise the issues of reducing trade deficit between Nepal and China with top priority during a meeting of the Nepal-China Foreign Secretary Level Mechanism scheduled to be held in the capital on Monday.
Talking to RSS, Joint Secretary at the Commerce and Supplies Ministry Ngaindra Prasad Upadhyay said at the meeting, the Nepali side is expected to raise the issues regarding how to minimize an enormous trade imbalance between the two countries.
The Chinese side will be requested to make arrangements for smooth export of Nepali products to China, said Joint Secretary Upadhaya.
The State is responsible for ensuring duty free market and market facilitation, he said and stressed that the business community also pay a heed towards trade diversification since the conventional products are not sufficient for the development of trade sector.
According to Trade Promotion Center, annual trade deficit of Nepal with China stands at Rs. 45 billion. Nepal exports goods worth Rs. one billion to China every year.
Nepal imports cement, iron rods and noodles from Tibet, whereas it exports handicraft items, carpet, pashmina, silver ornaments, vegetable ghee and incense sticks to China.
Expansion of mutual contact, development of physical infrastructure, investment in hydropower sector, reopening of Kathmandu-Lhasa Bus Service, direct flights between different cities in the two countries and construction of a ring road in Kathmandu are other agendas of the meeting, it is learnt.
Providing soft loans for the Upper Trishuli-3 'A' Hydro Project and international airport in Pokhara are in the agenda of the meeting, the ministry said.
The Nepali team to be led by Foreign Secretary Durga Prasad Bhattarai will be accompanied by senior officers of the Ministries of Finance, Agriculture, Energy, Industry, Commerce and Supplies, Health, Home, Local Development, Education, Tourism and National Planning Commission (NPC).
As the meeting of the mechanism is regular, it will not take any decision and no agreement will be signed. It is learnt that the issues raised in the four- yearly meeting will be included in the future action plan by the officials of both the countries.
Source: THT
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