(Yicai Global) May 22 -- Several Nepalese firms are preparing for the first China International Import Expo to receive larger orders from the eastern neighboring country, said Anoop Bhattarai, chairman of the Nepal-China Executive Council, adding that the Chinese market boasts the biggest growth potential for the Himalayan country's exports.
CIIE is a very important platform for Nepalese products, said Bhattarai in an interview published on the upcoming trade fair's website. China has become the second-largest export market for Nepalese products after India, according to Nepal's foreign ministry.
The South Asian country's exports to China surged 72 percent to CNY108 million (USD17 million) since July last year to February this year, while slightly narrowing the massive trade deficit, reported state-backed news agency Xinhua, citing data from the Himalayan country's central bank. The jump was resulted by a rise in demand of products such as wheat flour, tea, noodles, handicrafts, and pashmina, according to the report. The trade deficit still persisted at USD5.88 billion during the period.
The expo will not only show China's determination to promote the development of economic globalization, but also gives Nepalese firms opportunities to expand their market share in the world's second-largest economy, said Bhattarai.
Nepal's relations with China have a history of several thousands of years and the basis of this relationship is Buddhism, added Bhattarai. Spiritual supplies have been popular in China since these ancient times, including Buddha statues, Thangka scroll paintings, singing bowls, and hand-carved wood artifacts, said Bhattarai, adding that also hand-made cashmere shawls are in demand.
Nearly 1,100 companies from every curve of the globe have signed up to show off their new products at the first China International Import Expo slated for this November in Shanghai, reported Xinhua.
NCEC is a Nepalese trade organization that has been working to help local entrepreneurs to promote their products in China during the past 15 years.
Editor: Emmi Laine