Nepal becomes Tibet’s most important trading partner: Officials

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Lhasa (Tibet), July 15 (Xinhua-ANI): Nepal is the most important and stable trading partner of the Tibet autonomous region in southwest China, as bilateral trade accounts for more than 70 percent of Tibet’s total foreign trade volume, Tibetan officials said Sunday.

Bilateral trade skyrocketed to 945 million U.S. dollars in 2011, up 86.2 percent year-on-year, said Gao Yinhua, an official with the region’s Commerce Department.

With better transport infrastructure, the bilateral trade has enjoyed a boost in recent years and Nepal is the most important trading partner of Tibet, Gao said.

In 2000 the trade volume between Nepal and Tibet exceeded 200 million U.S. dollars, in comparison with 60 million dollars in 1997, according to official figures.

Gao also said the bilateral trade features three characteristics.

First, the proportion of the trade with Nepal in Tibet’s total foreign trade volume is 90 percent.

Second, trade fairs play a crucial role in boosting bilateral trade. The 13th economic and trade fair held in Kathmandu, capital of Nepal, in 2011 saw the signing of 12 trade contracts worth more than 10 million U.S. dollars in total.

Third, the two sides have conducted more dialogues to promote their trade. Trade officials of the Tibet government met with their Nepal counterparts in 2010, 2011 and 2012 to facilitate bilateral trade. (Xinhua-ANI)