NEPAL – Following two days of trade talks, officials from Nepal and Tibet have signed a memorandum of understanding (MoU) to hold a trade fair in Nepali capital Kathmandu from 2 to 6 November this year.
The show will aim to improve trade between Nepal and China.
The Nepal-China Tibet Trade Facilitation Committee, led by Tibet’s deputy secretary-general Ye Yinchuan and Toya Narayan Gyawali, joint secretary at Nepal’s commerce and supplies ministry, also agreed to resolve problems plaguing bilateral trade, which Nepal claims have been creating a growing imbalance in China’s favour.
According to Nepal’s Trade and Export Promotion Council, while Beijing exported goods worth Nepali Rs 43bn (US$610m) to Kathmandu in the financial year 2009-2010, Nepal only exported a total of Rs 1bn to China. In the first eight months of the financial year 2010-2011 this trend has continued, with Nepal’s exports to China plummeting another 55 per cent. This is due in part to the Chinese ban on the import of religious items, a significant portion of Nepal’s exports.
Also in China, NürnbergMesse China and the Society of Automotive Engineers of China (SAE-China) are planning a new tradeshow for the Chinese international automotive industry.
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