Private sector in Nepal for joint
venture with Chinese investors
The private sector has stressed that Prime Minister KP Sharma Oli's official
visit to China should be made fruitful as it offered an important opportunities
to Nepal to boost its trade and bilateral cooperation with its northern neighbor.
PM
Oli is leaving on an official visit to the People's Republic of China on
Tuesday.
The
business sector has suggested the government to come up during PM's visit with
important plans for maintaining a balance in Nepal-China trade.
Nepal
imported goods worth Rs 127.59 billion from China in the 10 months of the
fiscal year 2017/18 whereas it exported goods worth mere Rs 2.67 billion in that
period. Similarly, Nepal's total import
from China was Rs 6.015 billion and export to China was Rs 1.53 billion in
fiscal year 2016/17.
President
of Confederation of Nepalese Chambers of Commerce and Industry (CNI), Hari
Bhakta Sharma said that the government should lay emphasis on promoting Nepal's
exports in China. He is leading the Nepali business team accompanying PM Oli
during his visit to China.
He
said that they wanted to operate joint venture companies with Chinese
companies.
Woolen
carpet, readymade clothes, yellow lentil, polyester and other thread, textile,
iron and steel, goods manufactured from iron, steel, handicraft materials,
noodles, toothpaste, cardamom, tea, Nepali paper, leather, Pashmina shawl, and
herbs are the major goods being exported from Nepal in recent period.
The
total foreign trade of Nepal has been increased by 20.8 per cent in 10 months
of the current fiscal year as compared to correspondent period of the previous
fiscal year and reached to Rs 1 trillion and 49 billion.
Out
of the total trade, export has 6.3 per cent contribution while 93.7 per cent
contribution of import.
The
goods are being exported to European Union and America while thread is being
exported to Turkey, hardened yak cheese to America and meat to Vietnam, shows
the data.
More
than 50 industrialists and bankers are included in the delegation led by Prime
Minister Oli. Investment agreement of
more than 200 billion would be signed between government and private sectors of
Nepal and China during the visit.