Kathmandu, Foshan agree to facilitate trade

Nepal-China Chamber of Commerce and Industry (NCCCI) and China Council for the Promotion of International Trade Foshan Committee (CCPIT Foshan) agreed to facilitate trade and business in the two places.

NCCCI chairman Rajesh Kaji Shrestha and president of CCPIT Foshan Xie Weixiong signed a Memorandum of Understanding (MoU) here in Kathmandu today on behalf of their respective institutions.

Both the parties will, according to the understanding, do their best to promote, strengthen and expand bilateral trade, economic, technological cooperation and other business activities, and exchange information on commerce, industry and economy.

They also agreed to assist their members in establishing and strengthening business contacts by organising conferences, seminars, study tours, exchange of trade groups and participation trade fairs.

Shrestha, after signing the agreement, said that understanding will play a key role in increasing business activities between Foshan and Kathmandu.

He also requested the Foshan delegation to promote Nepali handicrafts – that is a major export item and popular in China too – in Foshan.
Xie, on the occasion, responded positively and said that that the visiting business team will do their best.

NCCCI has signed MoU with 18 trade councils of China, in the last 14 years, according to the bilateral chamber.

Chinese envoy asks to attract more Chinese tourists to bridge trade deficit

Chinese ambassador to Nepal Wu Chuntai has stressed the need to attract more Chinese tourists to Nepal.

“The number of Chinese tourists to Nepal has increased by 35 per cent,” he said, addressing 13th annual general meeting of Nepal China Chamber of Commerce and Industry (NCCCI), here today.

“Nepal can reduce trade deficit with China by attracting more Chinese tourists,” he said adding that Nepal can take benefit from tourism by increasing the length of stay of Chinese tourists in Nepal.

Chinese government has declared Nepal as its outbound tourist destination so the arrival of Chinese tourists has been increasing in recent years. In 2012, more than 100,000 Chinese tourists visited Nepal.

Each year, more than 50 million Chinese tourists travel abroad, and if we are able to attract even a small fraction, it could be beneficial to our tourism industry.

With increasing trade, trade deficit has also been increasing with China.
There is a need to strengthen relation between private sectors of both the countries to explore new investment avenues, Wu added.
Minister for Foreign Affairs Madhav Prasad Ghimire, on the occasion, said that the government had laid high emphasis on economic diplomacy in cooperation with Nepali missions abroad and bi-national chambers to promote the country’s economic relation with major trading partners.

There is a need to develop infrastructure and bring more investment in Information and Technology, hydropower and tourism sectors, he added.

Nepal China Chamber of Commerce and Industry (NCCCI) on the occasion urged the government to coordinate with the private sector to reduce the trade gap with China.
Speaking on the occasion, president of the chamber Rajesh Kazi Shrestha expressed the need to strengthen trade relations with China as it is one of the major trading partners.

According to Trade and Export Promotion Centre’s (TEPC) data, Nepal suffers a trade deficit of around Rs 62 billion in 2012. “The huge trade deficit needs to be reduced and the government along with the private sector must work together in minimizing the trade gap,” he added.

Though, China is providing zero tariff facilities on 7,787 Nepali products, Nepal has failed to take advantage of these products, Shrestha said, adding that Nepali exporters still have not been able to grab the opportunity. “Due to the complicated process in quarantine, Nepali exporters have been facing problems in exporting food items, agriculture products and livestock.”
He also requested the government to discuss with Chinese counterparts to address the problem. “The government should also create an environment to issue quarantine certificates that are acceptable to the Chinese customs,” Shrestha said.

The bi-national chamber also requested both the governments to upgrade the existing transit routes for better connectivity through land route with proper infrastructure and simplified customs procedures to encourage trade between the two countries.
One of the dry ports at the Sino-Nepal border is under construction and if the Special Economic Zone (SEZ) could also be established at the border, Chinese investors could be attracted to Nepal, according to Shrestha, who also stressed on the need to increase the existing flight frequency and to take initiative for direct connectivity with major cities of China like Beijing and Shanghai to attract Chinese tourists.

Kathmandu-Shanghai direct flight soon

Kathmandu-Sanghai direct flight will come into operation soon, according to a visiting Chinese government official.
“A direct flight on Kathmand-Shanghai route could come into operation soon as most of the Chinese are Buddhists and they like to visit Lumbini, said vice chair of Council for the Promotion of International Trade Shanghai Li Zhigang, who is leading a Chinese team to Kathmandu.
Nepal and China both can benefit from the direct flights on Kathmandu-Shanghai route, Nepal-China Chamber of Commerce and Industry (NCCCI) president Rajesh Kazi Shrestha said — during a talk with a visiting delegation.
The office bearers of NCCCI and the visiting delegation also discussed on boosting bilateral trade and investment between Nepal and China.
“Nepal needs Chinese investment in hydropower, agriculture, and tourism, Shrestha said, adding that it also has to promote trade and establish a joint venture Chinese bank.

Entrepreneurs suggest Dahal to focus on economic agenda

The entrepreneurs today asked UCPN-Maoist chairman Pushpa Kamal Dahal "Prachanda' to focus on economic agenda during his China visit.
Nepal-China Chamber of Commerce and Industry (NCCCI) — meeting Dahal before he left for China today afternoon — urged him to help increase Chinese investment in Nepal.
"The NCCCI team asked Dahal to request Chinese investor to invest in mega projects, support special economic zones construction and implementation of duty free export of Nepali goods to Chinese market," said NCCCI president Rajesh Kaji Shrestha, who led the team.
Though, China has been interested to invest in Pokhara regional international airport, West Seti hydropower and Lumbini, the birth place of Lord Buddha, Nepal wants it northern neighbour to invest more on Infrastructure.
Similarly, the NCCCI team also requested Dahal to ask Chinese officials to open Chinese bank in Nepal immediately and start direct flight on Shanghai-Kathmandu route. More direct flights will help increase Chinese tourists to Nepal. The Chinese tourists flow has increased recently, but still the country is dependent on South Asian arrivals.

Apartfrom tourism, China can invest in agriculture, water resources and information technology in Nepal, they said, asking Dahal to focus his week-long visit on convincing Chinese investors to come to Nepal and invest, Shrestha added.
The UCPN-Maoist supremo Dahal assured the entrepreneurs that he would invite Chinese investors to invest in mega projects and request the northern neighbour to simplify export facility from Nepal.
China has given duty free export facility to over 7,787 Nepali goods but most of the products are not the products that Nepal is producing or has comparative and competitive advantages.
"My visit will focus mainly on economic agenda," he said, assuring the entrepreneurs that he would raise economic issues during the meeting with Chinese officials. "Agriculture, hydropower, export-import will be on the list during the meetings."
Dahal also assured to make his visit fruitful to the nation and people.

China-South Asia meet in Kunming, Nepal to showcase handicrafts in China Import and Export Fair

Nepal will participate in the seventh China-South Asia Business Forum in Kunming, China on June 5-7.
The forum will discuss business and trade relations between China and South Asian countries. Nepal will highlight the trade and investment opportunities in Nepal and South Asia, and also present a paper on 'Important Breakthroughs in Economic Cooperation between China and South Asia,' in the forum, said president of Nepal-China Chamber of Commerce and Industry (NCCCI) Dr Rajesh Kazi Shrestha before leaving for Kunming today.
Similarly, Federation of Nepalese Chambers of Commerce and Industry will also participate in the forum.
The Pakistani commerce minister Amin Fahim along with vice chairman of China Council for Promotion of International Trade Wang Jinzhen will inaugurate the forum, which will also be addressed by the commerce minister of Sri Lanka and deputy commerce minister of Bangladesh.
The forum is expected to be attended by more than 500 delegates including 120 business delegates from South Asian Chambers of Commerce and Industry. Former President of SAARC CCI Tariq Sayeed, who is also the rotating chairman for the seventh China-South Asia Business Forum will lead the SAARC CCI delegation in the absence of president Vikramjit Singh Sahney.
Besides the immediate past president Annisul Huq, the sitting vice presidents of SAARC CCI Pradeep Kumar Shrestha (Nepal), Jashimuddin (Bangladesh), Thinly Palden Dorji (Bhutan), Iftikhar Ali Malik (Pakistan), Kosala Wikramanayake (Sri Lanka), and secretary general of SAARC CCI Muhammad Iqbal Tabish will also participate in the forum.
In addition to the members of all national chambers and federations, the constitute member bodies of SAARC CCI, confederations and other chambers/associations will also participate in the forum, which is organised as an annual venture of China Council for Promotion of International Trade in collaboration with SAARC Chamber of Commerce and Industry.
Similarly, the Nepali team will also participate in the China Import and Export Fair — on June 6-10 — where it will showcase handicrafts like silverware and thankas in 58 stalls. Some 10 domestic companies are taking part in the import-export show that has the theme, 'Building Bridges through Socio-economic Cooperation', for this year.
On the sidelines of the forum and exhibition, the Nepali delegation will also take part in the third South Asia-Sichuan business promotion seminar organised by China Council for Promotion of International Trade Sichuan Sub Council on June 7-9.

Turkey trade fair
KATHMANDU: Representatives from Nepal Turkey Chamber of Commerce and Industries (NTCCI) on Sunday left for Istanbul to participate in the Turkey World Trade Breeze 2012. President of NTCCI Akhil Kumar Chapagain along with a team of 22 representatives will participate in the trade fair in Istanbul. “There are a number of projects in our country that are related to the construction of fast track roads, railway tracks, hydropower construction which will benefit through our participation in the trade fair,” said Chapagain. According to a press statement, the trade fair will have participants involved in infrastructure development, construction materials, furniture, and interior decoration. During the trade fair the Nepali delegation will also meet the President of Turkey Abdulla Gul. “With frequent participation in Turkish trade fairs, total trade between the two countries has increased 10 times,” he said. According to NTCCI, total trade between the two countries was worth Rs 220 million some five years back whereas at present total imports from Turkey is worth Rs 2 billion and total exports is worth Rs one billion. The trade fair will have a total of 185 stalls from 150 different countries.