FNCCI poised for Down Under tour

KATHMANDU: Lately, Nepali entrepreneurs are trying to explore new business destinations.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Kush Kumar Joshi is leading an 11-member team to Australia and New Zealand on an industrial visit from July 25 to August 5.

“After political transition, Nepal has been heading towards economic development. In such a situation, it is necessary to introduce Nepal to these countries so as to establish trade relationships and expand the investment sector for economic development of our country,” said Joshi. The delegation is drawn from hydro power, medicine, carpet, film industry, food, dairy, transportation and advertisement sectors. He also said that Nepal is facing huge losses due to low export to these countries.

During the financial year 2007-08, total export to Australia was worth $2.7 million whereas the import from there was worth $26.9 million. Export to New Zealand was worth $0.49 million while import from there was worth $12.5 million. “In 2008, the total number of tourists from Australia was 5511, which is only 2.8 per cent of total tourist arrivals. The number of tourists from New Zealand was 936, which is 0.5 per cent of total tourist arrivals,” said Joshi adding that he hoped the visit would help correct the existing imbalance.

Nepal exports carpets, metal craft, paper, wheat flour and starch, rye flour, headgear and parts thereof, articles of apparel, clothing accessories, vegetable alkaloids — natural or produced by synthesis — and their salts, ethers, esters and other derivatives aside from quartz, silver jewellery, bed linen and parts of cleaning, and grading machines to Australia and New Zealand.