Nepal, China sign MoU on consumers’ rights, trade and commerce

Nepal and China today signed a Memorandum of Understanding (MoU) on the bilateral exchange of information on the areas of consumers’ rights protection, trade and commerce relations.
The MoU was signed by supplies minister Deepak Bohara and Minister of State Administration for Industry and Commerce of China Zhang Mao on behalf of their respective governments.
“The understanding is intended to initiating bilateral exchange of information on the areas of consumers’ rights protection, further stepping up of the implementation of existing rules and regulations in the areas, help create competitive market environment and more particularly, accentuate the trade relations between the two countries,” the ministry said in a press release.
The important areas of cooperation include, among others, the mutual exchange of information on newly effected rules and regulations, routinely hold consultations by officials on the matters of common concerns, information sharing on new practices of trade and commerce and periodic exchange visits by government officials, trade experts and consumer’s rights activists.
“The MoU would be a milestone in strengthening trade relations between the countries," said Bohara after signing the MoU. He further added that the Government of Nepal is consistently making efforts in protecting consumers ‘interests'.
Minister of the People’s Republic of China Zhang Mao, on the occasion, said that the MoU would reinforce traditional trade, and commerce relations between Nepal and China, and help protect interests of consumers of both the countries.
During the programme secretary of the Ministry of Supplies Prem Kumar Rai also opined that the MoU would be instrumental in underpinning trade and commerce relationship between the two friendly countries.