Nepal, China agree to activate secy-level joint committee REPUBLICA KATHMANDU, Aug 9: Nepal and China have agreed to activate the secretary-level joint mechanism to address trade related issues. During his visit to China Finance Minister Dr Ram Sharan Mahat has purposed the Chinese side to activate the joint mechanism during his meeting with Gao Hucheng, commerce minister of China, according to a government statement. The mechanism remains defunct for the past seven years without any particular reason. Nepali traders have long been demanding for the joint mechanism at the state level to boost trade relations with China. Traders have expected that the joint mechanism will be useful to address trade related disputes between the immediate neighbors. Nepal´s trade deficit with China stood at Rs 67.55 billion in the first eleven months of the fiscal year 2013/14. Export to China grew by 3 percent in 2013/14 as compared to the previous year, while import grew by 11 percent. Both the countries will finalize the agenda for the regular meeting of the joint mechanism. Likewise, Hucheng announced support for the landslide victims of Sindhupalchowk. The landslide site is located near Nepal´s border with China and the Araniko highway-- the trade route with China-- is blocked because of the landslide. Hucheng also said that they will provide support to the victims through the government of Nepal. Prior to the meeting with commerce minister Hucheng, finance minister Mahat had met with his Chinese counterpart Lou Jiwei. During his meeting with the Chinese finance minister, Mahat sought investment and more assistance from China to translate the government´s vision of upgrading the country on the league of developing nations by 2022. “Mahat´s visit to China basically focused on trade facilitation and encouraging Chinese investment in Nepal to minimize the trade deficit,” the statement added. Published on 2014-08-10 02:04:54
Posted on: Sun, 10 Aug 2014 01:34:50 +0000
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