FNCCI scouting Chinese options

KATHMANDU: Nepal and China’s Yunnan province are exploring ways to expand trade relations, tourism, agriculture, water and energy sectors.

During a meeting of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) officials and Li Jiming Deputy Director General, Department of Commerce and Yunnan Province, the two sides discussed various possibilities of investment in Nepal.

“We are keen on welcoming Yunnan’s investment in Nepal,” said FNCCI president Kush Kumar Joshi. “Nepal can gain from Yunnan’s expertise in the private sector,” he said urging for joint ventures by Chinese and Nepalis.

“Yunnan has developed five key sectors — tobacco, tourism, energy, mines and bio-technology,” Jiming said adding that it can work with Nepal in tourism, development of energy sector and mines and agriculture. Jiming sought Nepal’s participation in the International Trade Fair in Kungming city in 2010. He said mutual investment will help decrease trade deficit and create opportunities for economic and trade development.

Commerce Ministry secretary Purushottam Ojha said on the occasion that Nepal has submitted a list to China of exportable items for preferential treatment.

FNCCI senior vice-president Suraj Vaidya presented a paper on “Potentials of Trade and Business in Nepal. According to FNCCI statistics, Nepal has an annual trade deficit of Rs 21.5 billion with China.