Nepal | August 12, 2020

Nepal-China agree to enhance bilateral trade

Himalayan News Service
Share Now:
Damodar Regmi, DDG of the Customs Department and his counterpart Long Chengwei, head of the Chinese delegation, after inking a 20-point deal to enhance bilateral trade, in Kathmandu, on Thursday.

Damodar Regmi, DDG of the Customs Department and his counterpart Long Chengwei, head of the Chinese delegation, after inking a 20-point deal to enhance bilateral trade, in Kathmandu, on Thursday.

Kathmandu, November 5

Nepal and China have agreed to expedite reconstruction of customs infrastructure and the two major trade routes — Tatopani-Lhasa and Rasuwagadhi-Kyirong — damaged during the earthquakes of April and May to enhance bilateral trade. Though Rasuwagadhi-Kyirong route has already been reopened, the customs offices and other infrastructure need to be reconstructed at the earliest.

The customs deputy director general level talks between Nepal and China that concluded today in the Capital sealed a 20-point deal to expand bilateral trade.

Damodar Regmi, deputy director general of the Customs Department, and his counterpart Long Chengwei, head of the Chinese delegation, inked the pact on behalf of their respective governments.

As per the agreement, the Chinese side has pledged to construct the inland clearance depot (ICD) at Larcha of Sindhupalchowk and Timure of Rasuwa at the earliest. The ICD Larcha is under construction and construction works of ICD Timure will start soon.

Nepal has also sought immigration facility for truckers to enter China and the Chinese side has agreed to the proposal put forward by Nepal.

Nepal and China have also agreed to upgrade the infrastructure of customs and road connectivity at seven other border points. Reportedly, full-fledged customs points will be operated in Yari, Humla-Poraag; Olangchung Gola, Taplejung-Riwa; Jumla-Penan; Mustang-Lizi; Larke, Gorkha-Tibet; Chhekampar,Gorkha-Tibet and Kimathanka, Sankhuwasabha-Riwa in a bid to boost trade relations with the northern neighbour.

Both sides have agreed to harmonise working hours at the customs of both sides. As per Regmi, working time harmonisation will speed up customs clearance processes. Due to lack of working hour harmonisation between Nepal and Tibet, traders are compelled to spend more time at the border for customs clearance. It is expected that travel time of cargoes could be shortened and the cost of trade will be minimised to some extent, which in turn would benefit traders and ultimately the consumers.

Nepal has also requested China to simplify the duty free quota free (DFQF) facility extended to Nepal by modifying the harmonised system code (HS code) of the products to six digits from eight digits. Nepal has raised the issue to narrow down the non-tariff measures imposed by the government of China so that Nepali exporters can reap the benefits of trade with China. China has extended DFQF facility for 8,030 Nepali goods in all tariff lines but trade deficit with China has been increasing every year.

Nepal imported goods worth Rs 100.17 billion from China against exports of Rs 2.23 billion in the last fiscal year, according to Nepal Rastra Bank’s data. To simplify the DFQF facility, both sides have agreed to form a joint technical team.

Likewise, on Nepal’s proposal of providing mutual recognition for quarantine certification of each other’s products, the Chinese delegation has expressed commitment to write to the Central Quarantine Authority for approval.

Nepal has urged Chinese exporters to mandatorily put labels in English or Nepali language on food and beverage items.

Nepal and China have also agreed to share information promptly to control unauthorised trade and utilise banking channel for payment in trade.

The next customs DDG-level talks will be held in Lhasa in 2016.

 


A version of this article appears in print on November 06, 2015 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Trump abruptly escorted from briefing after shooting near WH

WASHINGTON: President Donald Trump was abruptly escorted by a US Secret Service agent out of the White House briefing room as he was beginning a coronavirus briefing Monday afternoon. He returned minutes later, saying there had been a “shooting” outside the White House that was “under control. Read More...

Digitised interventions for social inclusion: Adapting to the unwelcomed crisis

Last year, two world-class wheelchair basketball coaches visited Nepal to conduct an intensive sports training aimed at raising the level of sports in the country. The training brought together more than 40 female and male wheelchair basketball players in Kathmandu - athletes and citizens living wit Read More...

Balkhu jeep, leaving kathmandu

Public transportation sector most affected by lockdown: Transport Entrepreneurs

KATHMANDU: The plan to allow resumption of long-distance public transportation from August 17 across the country has again been cancelled. The Cabinet meeting held on Monday decided to resume flight operations from September 1 citing worsening situation due to surge in the number of COVID-19 case Read More...

Kathmandu University, KU

Kathmandu University closed for 15 days from today

KATHMANDU: The Dhulikhel-based Kathmandu University (KU) has decided to shut down for the next 15 days starting today, owing to the growing risk of coronavirus infection. Issuing a notice on Monday, University registrar Prof Dr Subodh Sharma said all services (except most essential services Read More...

ICC Cricket World Cup Semi Final - India v New Zealand

New Zealand promises bumper international summer schedule

WELLINGTON: West Indies, Pakistan, Australia and Bangladesh have all confirmed they will tour New Zealand during the southern hemisphere summer, New Zealand Cricket (NZC) chief executive David White said on Tuesday. Under the International Cricket Council's Future Tours Programme, West Indies Read More...

Coronavirus , vaccines, vaccines trails

Russia becomes first country to approve a COVID-19 vaccine, says Putin

Russia approves a vaccine before other countries Putin says own daughter was vaccinated Says he hopes mass production will start soon Experts have raised safety concerns MOSCOW: Russian President Vladimir Putin said on Tuesday that Russia had become the first country in the world t Read More...

CIAA Chief Commissioner tests positive for Covid-19

KATHMANDU: Chief Commissioner at Commission for Investigation for Abuse of Authority (CIAA) Navin Kumar Ghimire has contracted coronavirus infection. He had submitted his swab specimen for testing on Sunday, the results for which came out positive, a source confirmed.s Samples had been drawn f Read More...

Highest daily-cases reported since easing of lockdown in Nepal, Covid-19 tally reaches 23,948

KATHMANDU: The Health Ministry on Tuesday informed that 638 new cases of coronavirus-infection have been registered in the last 24 hours. With this, Nepal's Covid-19 tally has reached 23,948 today. Among the new cases, 134 have been reported from within Kathmandu Valley. Meanwhile, 171 people Read More...