NCCCI for balance in Sino-Nepal trade

NCCCI for balance in Sino-Nepal trade

Officials of the Nepal China Chamber of Commerce and Industry (NCCCI) after their recent visit to China have proposed removing the imbalances in bilateral trade between Nepal and China.

Currently, Nepal suffers a major deficit as far as bilateral trade is concerned. As per figures provided by NCCCI, the deficit in export is Rs 144.4 million, and in import the deficit amounts to Rs 27.3 million while the trade deficit stands at more than Rs 22.48 billion.

"For balance in trade, there has to be zero tariff on Nepalese goods, and we have been lobbying for this not only with the Nepal government but the Chinese government as well. Yet, nothing has been done so far," said NCCCI chairman Rajesh Kaji Shrestha.

According to Shrestha, there are nine major areas that can extensively support Chinese investment, with banking, tourism, mineral and cement, information and technology, education, hydropower, agriculture, Ayurveda, and the medicine industry being the key areas of Chinese investment.

Nepal is wedged between China and India, which are the first and second most populated countries in the world and have attained economic growth at an accelerated rate as well as maintaining strong trade ties with each other, "If we manage to be the transit route to these two countries, the rate of economic and trade growth for Nepal can be strong," added Shrestha. The idea of being the transit route between China and India has been in the pipeline for the last eight years but no progress has been made on this front.

Data provided by NCCCI also show that the year 2011 can be used to target many Chinese tourists. The lead in tourist arrival has been maximum from India, followed by Americans and Europeans while Chinese hold a tight spot, at third place, Shrestha assured that if encouraged properly Chinese tourists would flock to Nepal in 2011.

HAPPY NEW YEAR BANDHA(STRIKE)!!!

HAPPY NEW YEAR BANDHA(STRIKE)!!!

Normal life was hit across the country on Friday(jan12009) due to the bandh called by Indigenous People's Mega Front demanding implementation of the ILO 169.
Some districts in the eastern region of the country witnessed a total bandh while others were partly affected. A report from Damak of Jhapa said the bandh enforcers did not allow even vehicles of the United Nations and other donor agencies in the area.
Vehicles belonging to UNHCR, IOM, LWF and CARITAS-Nepal were obstructed at Damak chowk.Normal life throughout the country today remained affected due to the bandh called by Indigenous People Mega Front demanding implementation of ILO 169 and various other demands.
Some districts in the eastern region of the country witnessed a total bandh while others were partly affected.

A report from Damak, Jhapa said that enforcers did not even allow vehicles of the United Nations and other donor agencies in the area.
Vehicles belonging to UNHCR, IOM, LWF and CARITAS-Nepal were obstructed at Damak chowk. The bandh organisers had said that they would stop the vehicles for 15 minutes only. Despite that, the vehicles had to stay off the road the whole day.
Lok Samba, Damak coordinator, Joint Struggle Committee of Indigenous People, maintained that they obstructed the vehicles to make their demands known to the international community.

Meanwhile, vehicles stayed off the roads in Dhankuta district today while marketplaces, education institutions and factories remained shut. Similarly Inaruwa, Dharan, Itahari including other major cities of Sunsari district remained shut. The bandh enforcers did not obstruct the motorcyclists though.

According to report from Gaighat, picnic goers, who were heading to Baruwa, have been stranded due to the bandh. Udaypur districts remained shut while transportation services have also been affected. Normal Life of Rajbiraj was partly affected as few vehicles were seen plying in the area.

Meanwhile, Eastern Regional Police Office said that Siraha, Saptari, Khotang and Okhaldhunga districts remained unaffected. Likewise, Biratnagar bazaar remained open while other parts of Morang district were shut. The police also detained four bandh enforcers.

Normal life of Pokhara was also affected as marketplaces, industrial organisations and educational institutions remained closed.
Only few vehicles of emergency services and media were seen plying in the city area. The street festival that had been going on at the lakeside continued undeterred. However, there were fewer visitors though.

SUGAR @Rs80

SUGAR @Rs80

The price of Sugar in Nawalparsi district has suddenly gone up within a week. The price of sugar has reached around Rs 80 per kg though it was Rs 60 only two days ago in district headquarters Parasi including other bazaar areas of the district. According to chairman of the Nawalparasi consumers' forum Tika Ram Gaire, the price increased after the sugar mills in the district began to supply sugar to Salt Trading Corporation directly and stopped supplying to local consumers. He said businessmen created artificial shortage.

Economy must be first agenda now: Pandey

Finance Minister Surendra Pandey

LALITPUR: Finance Minister Surendra Pandey today said economic development should be made the common agenda of the country now.

Inaugurating the 30th AGM of Lalitpur Chambers of Commerce and Industry (LCCI), minister Pandey said the political parties should end the culture of strikes and make economic development their common agenda. He said the government will consult entrepreneurs to develop a policy to end the culture of bandhs for once and all and give momentum to economic development. Referring to the Chinese agreement to raise investment in agriculture, hydropower, tourism and infrastructure sectors during the prime minister’s China visit, he said the government will work to build an atmosphere conducive for investment.
At the programme, Federation of Nepalese Chambers of Commerce and Industry chairman Kush Kumar Joshi called on all entrepreneurs to y implement the ‘no work, no pay’ policy of FNCCI.
LCCI chairman Naresh Kumar Shrestha said economic development has not been given real priority despite commitments by successive governments.
On the occasion, Finance Minister Pandey gave away export awards to several entrepreneurs. The AGM will elect a 23-member new working committee of LCCI tomorrow.