China, Nepal Reopen Traditional Border Trade Points

(MENAFN- IANS) Lhasa, May 25 (IANS) China and Nepal reopened their traditional border trade points on Saturday, marking a step forward in enhancing bilateral economic and trade ties.

The reopening ceremony took place in Zhentang Township on the China-Nepal border in the city of Xigaze, southwest China's Xizang Autonomous Region, reports Xinhua News Agency.

At the Zhentang trade point, 110 Chinese merchants and 47 Nepalese merchants engaged in transactions involving over 50 types of goods, including daily necessities, building materials, food and beverages, agricultural products and Nepalese handicrafts.

Trade activities also resumed at other traditional sites in counties such as Zhongba, Saga, Gyirong and Nyalam.

Xigaze is a pivotal city for China's opening-up to South Asia, bordering India, Nepal and Bhutan, and hosting five trade land ports.

Feng Xuecheng, director of the municipal commerce bureau, said that traditional border trade has long supported the livelihoods of border residents and played a significant role in fostering the development and prosperity of border areas.

"We plan to continuously improve border trade infrastructure and promote further economic and trade exchanges between China and Nepal," Feng added.

Xizang traded with 175 countries and regions last year. Its imports from and exports to Nepal, its largest trading partner, totalled approximately 2.77 billion yuan (about 389.5 million U.S. dollars), up 77.2 per cent year on year, according to the customs bureau in Lhasa, the regional capital.



Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.