Minister Bhandari stresses reducing trade loss to China

Kathmandu, April 5: Minister for Industry, Commerce and Supply, Damodar Bhandari, has underlined the need to reduce trade loss to China.

In his address to the 25th annual general meeting of the Nepal Trans-Himalayan Commerce Association in the federal capital on Saturday, Minister Bhandari viewed Nepal could focusing on special products like medicinal herbs, handicrafts, agricultural items and readymade clothes for export. "The Association can play a leading role in the promotion of Nepali products. So, diversification of products and services along with quality enhancement and branding is essential," he reminded.     

The Minister informed that slight flexibility was maintained in foreign exchange policy to facilitate Nepali traders in China. "Various training on Chinese language, culture and process were given to the Nepalis so that it would be easier for them to conduct trade activities in China," he added.     

Other information the Minister shared during the programme were- budget allocation for infrastructure building and upgrading of Tatopani and Rasuwagadhi border points between Nepal and China, formation of 'Nepal-China trade facilitation committee', encouragement to electronic payment for cross-border trade, initiation of a dry port at Rasuwa-Keyrong border point, promotion of local production under the slogan of 'one station-one production', and technical assistance for quality improvement of Nepali products.     

The government has also prepared a work plan for the development of the border points of Korala, Hilsa, Kimathank and Olangchunggola.     

"Government is always together with the private sector. I believe the trade sector can be heightened through togetherness. We can work in unison for balanced and sustainable trade with China," the minister mentioned. (RSS)