China offers stunning duty-free access to Nepal for 4,721 items after offering BD

[Communist]

Nepal, China Signed Letter of Exchange on Free Custom

2010-05-14 19:41:22 Xinhua Web Editor: Cao

Nepal and China Friday signed Letter of exchange for free custom service provided by China to the developing countries.

Nepal and China Friday signed Letter of exchange for free custom service provided by China to the developing countries.

Chinese Ambassador to Nepal Qiu Guohong and Secretary of Commerce and Supplies Purusottam Ojha signed the Letter of Exchange at a special program in capital Kathmandu.

The items exported to the China will have zero custom which will increase the trade and promote business and decrease the loss in business.

China has implemented the free custom on 4721 items, most of which are agriculture products, such as fruits, ceramics products, jewelries among others.

Earlier there used to be 10-35 percent custom charged on the various items exported to China.

http://english.cri.cn/6826/2010/05/14/1721s569777.htm

 

[Communist]

Nepali products get zero-tariff in Chinese market

Himalayan News Service

KATHMANDU: Nepal got zero-tariff for 4,721 products in Chinese market.

Purusottam Ojha, secretary of Ministry of Commerce and Supplies (MoCS) and Qui Guohong, Chinese Ambassador to Nepal today signed an agreement on Letter of Exchange (LoE) regarding zero-tariff on 4,721 Nepali products to Chinese market.

Before the agreement Nepali exportable products were charged 10 per cent to 35 per cent customs duty.

“The agreement on LoE will help decrease trade deficit with China,” OJha said adding that amongst 4,721 products, 361 products will get direct benefit. “The most essential products like carpet, leather, coffee, Juice and silverware will get zero-tariff in the Chinese market,” he added.

Earlier, China has announced top provide zero-tariff to Least Developed Countries (LDCs) gradually. “Tariff reduction has been a key issue in global trade,” the envoy said adding that China is committed to WTO. “China is against the trade protectionism as it hurts the global trade,” he added.

During the year 2009 bilateral trade registered $414 million. The trade balance is in favour of China. “This agreement will help Nepal balance the trade deficit,” Guohong said.

Requesting to take part in the trade expos — that are going to be held in China — he also urged the entrepreneurs to take advantage from the concession.

Welcoming the Chinese gesture, president of Confederation of Nepalese Industries (CNI) and CA member Binod Chaudhary asked China to open up more. “We are hopeful that China will gradually provide zero-tariff to 90 per cent goods,” he said. “Nepal also looks forward to Mutual Investment Agreement with China,” Chaudhary added.

Supporting the envoy on development of Export Promotion Zone (EPZ) at Panchkhal, he also requested China to help in it.

The major Nepali exportable products to China are mushroom, orange, cherry, coffee, carpet, garment, beer, incense-sticks, match sticks, apple, tomato, onion, potato, strawberry, honey, cauliflower, brocauli, biscuit, grapes, soap, shampoo, mineral water, textile cotton clothes, wool, brass, fruit juice, leather products, marble, paints, ceramics, jewellery, copper wire, and cable which has been granted free customs.

The Himalayan Times : Nepali products get zero-tariff in Chinese market - Detail News : Nepal News Portal

 

[rubyjackass]

Awesome mann!! Good that China began to show its rise. Otherwise we have the Indian leaders especially Congress ones harping about how India has become a superpower and all that BS. Now they will shut their mouths and people will understand we have to work hard to rise.

 

[SinoIndusFriendship]

Awesome mann!! Good that China began to show its rise. Otherwise we have the Indian leaders especially Congress ones harping about how India has become a superpower and all that BS. Now they will shut their mouths and people will understand we have to work hard to rise.

Rubyjackass, you've improved a lot since last year. It is strange yo-yo effect many of us experience.

There are Indians that are sensible and accept their shortcomings --- these people reinforce our hopes that out people can work together.

Then come the Indians who boast and badmouth others --- these people annoy us.

Then come the Indians who at least admit that cooperation is doable, and share the pride of our long history of peaceful coexistence --- these people give us hope again for a bright Asian Future.

Then come the Indians who backstab and spread dirty lies --- we again lose hope.

Then come comments like yours that restore some hope in the future.








Can't we ALL just try a little harder to give-&-take a little?! Why must there be so much envy and competition?!

 

[chinapakistan]

Good work, Asian country should help each other.

 

[gpit]

Awesome mann!! Good that China began to show its rise. Otherwise we have the Indian leaders especially Congress ones harping about how India has become a superpower and all that BS. Now they will shut their mouths and people will understand we have to work hard to rise.

Jackass (excuse me, but is that your id called? No ill intention.), you are very sane today.

Actually, confidence is demonstrated by deeds, not mere words. Confidence is built on true competitiveness.

I’d like to believe that the Chinese have already calculated that to open the tariff barriers would not cause damage or too much damage to Chinese economy due to their competitiveness.

Jingoism is only useful when voting bank is to be built.

Collaterally, this action from China may put some pressure on GoI, as India government is notorious in protection.

But regardless, this is how the society/world moves forward.

 

[Mogambo]

What this thread have to do with china defense???????

 

[Chanakyaa]

This is a great Strategic Move for China.
Its a Must as they need to move ahead on economic fronts and get good influence at the local level.

India and Japan are the main competitors here but one must admit this move will affect various economic policies in South Asia.