Sino-Nepal trade fair starts

Chinese and Nepali businesses gathered in Xigaze City in southwest China’s Tibet Autonomous Region on Thursday for a five-day long trade fair that highlights Buddha statues, Tibetan medicine and other commodities from the Himalayan region.

A total of 171 businesses from the two countries have set up booths at the fair that opened Thursday morning at the Mt Qomolangma Exhibition Centre in Xigaze — at the foot of the world’s tallest peak. Most of the Nepali businesses have brought traditional artwork, textile products and food, while Chinese companies are displaying herbs, art-ware and electrical appliances. “The trade fair is expected to further boost Nepal’s trade relations and cultural exchanges with China,” said Purushottam Ojha, secretary at the Ministry of Commerce and Supplies. “It will enhance the two countries’ traditional friendship, expand trade and promote economic and technical exchanges,” said Deng Xiaogang, vice-chairman of Tibet’s regional government.

The Nepali ministry signed a memorandum of understanding (MoU) with Tibet’s regional government on Wednesday. According to the MoU, the two sides would establish a trade coordination committee to promote trade and investment by simplifying procedures in customs clearance, transportation and other aspects. The committee will meet annually in Lhasa and Kathmandu every alternative year and the first meeting will be held in six months. — Xinhua

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