Kathmandu. KATHMANDU: Chairman of the Federation of Nepalese Export Entrepreneurs Nepal, Govinda Prasad Ghimire, has urged Chinese investors and entrepreneurs to take Nepal as a strategic partner for production, innovation and sustainable development in order to further strengthen Nepal-China trade and industrial partnership.

Addressing the Nepal-China Business and Investment Forum organized by the Nepali Embassy for the Promotion of International Trade and China Council for the Promotion of International Trade and China Chamber of International Commerce on July 1 and 2, Chairman Ghimire said that the private sector is fully committed to expanding technology, investment and industrial cooperation in Nepal.

Stating that Nepal has a huge trade deficit with China as the expected utilization of zero customs facility provided by China for Nepali goods has not been done yet, he said, “We have not been able to take full advantage of the zero customs service provided by China.” Now is the time to convert this opportunity into real economic achievement. Stressing on the expansion of new market for high value exportable goods of Nepal, he said that there is immense potential for export expansion of handmade carpet, pashmina, high quality tea, coffee, medicinal herbs, spices and dairy products.

In the last 11 months alone, Nepal has imported goods worth Rs 382 billion from China. It is only Rs 58 billion.

On the occasion, Nepal’s Charge d’ Affaires to China Roshan Khanal said the Nepal government was committed to creating environment conducive for foreign investment and had initiated investment-friendly policy reforms in recent years.

Xu Quaid, Director General of the Department of Bilateral Cooperation of China Chamber of International Commerce, said that the event was an important event to identify new areas of cooperation between the businessmen of the two countries. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Export Promotion Committee President Hom Prasad Ghimire said opportunities have been created to further expand Nepal-China economic relations through industrial cooperation, technology transfer and sustainable investment.

He expressed the belief that such programmes would be effective in promoting Nepal as an emerging destination for foreign investment. Parbati Aryal, Chief of Economic Diplomacy at the Embassy of Nepal, said that the summit provided an opportunity to the Chinese investors and entrepreneurs to get a closer understanding of the huge investment potential of Nepal.