Kathmandu, December 19:

Experts and businessmen have underscored the need to exploit trade potential between Nepal and China, in a changing economic environment.

Speaking at an interaction organised by Nepal-China Chamber of Commerce and Industry (NCCCI) in the capital today, industry secretary Bharat Bahadur Thapa said that there are immense business opportunities for trade and investment between Nepal and China. “Nepal, as a Least Developed Country (LDC), should encourage foreign direct investment (FDI) in productive sectors,” he added.

Liu Yinan, economic counsellor at the Chinese Embassy said that Chinese investors are interested to invest in Nepal in the areas like wildlife, minerals and other sectors. “If special economic zones (SPZs) are functional on time, investors will be more attracted to invest in Nepal,” opined the Chinese embassy officials. “At the same time, private sector must be encouraged to expand Sino-Nepal trade and economic relation.”

On the occasion, Rajesh Kaji Shrestha, president of NCCCI said that China should help Nepali producers to organise trade fairs free of cost, which will help balance trade gap between the two countries. He also requested China to give duty free access for Nepali products in the Chinese markets to boost bilateral trade.

“If railway network and petroleum pipeline are expanded to the northern border of Nepal both the countries would benefit from it immensely,” Shrestha added.

Surendra Bir Malakar, president of Nepal Chamber of Commerce (NCC), said that tourism, hydropower and agro sectors are some of the potential areas for joint venture projects between the two countries.