Nepal, China to enhance trade relations, economic ties | WPN World People News

Nepal and China Sunday agreed to enhance trade relations and economic ties between them.

"I am confident that our cooperation will move forward quickly with more exchanges," said Chinese Ambassador to Nepal Yang Houlan at the 12th annual general meeting (AGM) of the Nepal-China Chamber of Commerce and Industry (NCCCI) held here Sunday, reported Xinhua.

The NCCCI has been actively promoting the trade and economic relations between the two countries since its foundation in 1999.

A special programme was organized here to commemorate the annual general meeting of the NCCCI.

Attended by Nepalese Minister for Commerce and Supplies, Barsha Man Pun, Ambassador Yang and businessmen, the AGM focused on the trade relations between Nepal and China and the promotion of economic ties between the two nations.

Addressing the function, the Chinese ambassador said that his government has encouraged the strong and reputed companies to invest in Nepal and promote bilateral economic relations.

"The NCCCI has made great efforts in solidifying friendship and promoting people to people exchanges between the two countries particularly in trade and economic cooperation," he said.

In his address, Pun said that Nepal is vying for the economic prosperity by ending the political transition in the nation.

"After the visit of Chinese Premier Wen Jiabao, the environment of trust has been strengthened between the two countries," Pun said.

He added that the government has always encouraged new investment projects in Nepal and will work responsibly with those investing in Nepal.

"There are immense possibilities for investment in Nepal and we are open for the Chinese investment," he said.

China is providing Nepal with assistance and technology for constructing a dry port in Tatopani which links Nepal and China through the "friendship bridge" constructed in 1981.

As per the Chinese official statistics of 2011, the total trade volume between Nepal and China stood at $1.2 billion, up 61 percent.

Likewise, Nepal's export to China stood at $14 million, up 21 percent.

Chinese tourists to Nepal in the year were 75,631, up 63.14 percent.

Source: Asia Pacific News.Net