FinMin Mahat stresses on multiple trade routes

KATHMANDU:

Finance Minister Ram Sharan Mahat has emphasised on the need to facilitate trade between Nepal and China via various transits. Mahat, who is on a week-long official visit to the northern neighbour, said that trade through multiple routes will also help boost living standards of people in both the nations.

Addressing a programme in Lhasa, Tibet on Sunday, Mahat said there were possibilities of developing numerous routes for trade between the two countries. His comments highlighting need for multiple transits have come at the time when the only motorable trade route — Kathmandu to Kodari — has remained affected for last 10 days due to massive landslide in Jure, Sindhupalchowk.

Both the nations have been planning to open a total of six transits, including Rasuwagadhi-Kyirung, for trade promotion. The Rasuwagadhi-Kyirung transit is estimated to come into operation from October this year with Chinese government intensifying construction of infrastructure on its side of the border.

The northern neighbour has been planning to operate Rasuwagadhi-Kyirung transit as an alternate route for Kathmandu-Kodari trade route. Operation of this route is considered vital for slashing down trade deficit with China. Rasuwagadhi connects Kathmandu through Syaphrubesi and Dhunche, Rasuwa.

Some of the major agendas of Minister Mahat’s visit to China are to discuss measures on bridging Nepal’s trade gap and strengthening economic ties with the northern neighbour. The government records show that Nepal exported goods worth Rs 2.32 billion in the first 11 months of last fiscal year to the northern neighbour, while imports from China stood at Rs 69.87 billion worth of goods.

Mahat said that since Nepal is moving ahead with an ambitious plan to achieve rapid economic development, the government is seeking international support. A press release issued by Finance Minister’s press secretary says, Mahat underlined the need of support from China, which is progressing rapidly, for the development of Nepal.

In the programme, Tibetan parliamentarians said that Tibet has been witnessing rapid growth in socio-economic sector with the help from central government. They emphasised on giving continuity to visits from both the countries on regular basis, which would help solve issues related to both the nations.

The programme was attended by high level officials of China’s Tibet Autonomous Region. Nepali officials who attended the programme included Finance Ministry’s Joint Secretary Madhu Marashini, Under Secretary Lal Bahadur Khatri, Nepal’s Consul General for Lhasa Hari Prasad Basyal and other officials from Nepali embassy in China.

During his stay in Lhasa, Mahat visited number of places and projects, including apartment projects, science and agriculture park and industrial development area. Of the total 15 economic zones of China, Lhasa Economic Development Zone is also ranked as a modern industrial area.

Mahat is scheduled to return to Nepal on Tuesday.

Source: THT