Author Archives: National Exports

About National Exports

Wholesaler of Soap Nuts, Cordyceps, Raw Herbs, Handicrafts, Garments and other products from Nepal. Please visit our website for more info.

China agrees to open market for Nepalese tea

China has agreed to open tea produced in Nepal to its market. During the visit of Nepal’s Foreign Minister to China, according to the Ministry of External Affairs, China agreed to open its market for Nepal tea. China has said it will open its market for Nepalese tea. Beijing has also agreed on the modalities sent last November for the export of tea from Nepal to China. The board has also informed that the work that will be done by Nepal at a fast pace for the implementation of the agreement will be done with mutual coordination.

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Doing business in Nepal

Nepal faces multiple constraints to economic growth, including low levels of foreign direct investment and poor infrastructure. Around 28 per cent of Nepal’s GDP relies on remittances from migrant workers. Nepal’s economic growth has been adversely affected by political uncertainty and natural disasters. The focus on political transition to democracy and attainment of peace has meant that inadequate attention has been given to economic and other reforms that could improve the investment climate, stimulate growth and create more private sector jobs.

A durable political settlement is key to boosting investor confidence, spurring economic growth and supporting the Government of Nepal’s aspiration to transition from least developed country to developing country status by 2022.

Australia’s trade with Nepal is small, but there is potential for growth in hydropower, tourism and infrastructure development.

Other areas in which there are increasing commercial opportunities following deregulation include civil aviation and telecommunications. Two-way merchandise trade in 2014-15 totalled A$32 million, with exports to Nepal valued at A$25 million (Source: Department of Foreign Affairs and Trade (DFAT)).

Principal exports to Nepal are vegetables and refined petroleum. Australia also exports food and beverages including wine.

A flat rate of 10 per cent Value Added Tax (VAT) is levied on all goods and services, except exempt items.

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Nepal’s export to China surge by 72 percent

KATHMANDU, March 19 (Xinhua) — Nepal’s export to China surged by 72 percent during the first seven months of the current fiscal year that began in mid-July 2017, a central bank report revealed.

As the Himalayan country has been struggling to reduce ballooning trade deficit, the rise in exports to China has come as relief to the country which is heavily dependent on remittance for financing most of its imports.

During the seven months, Nepal has witnessed trade deficit of 5.88 billion U.S. dollar, according to the report released by Nepal Rastra Bank (NRB), on Sunday.

According to the report, Nepal exported goods worth 17 million U.S. dollar to China during first seven months of the current fiscal 2017-18, a rise by 72.3 percent over the same period last fiscal year.

Massive rise in the exports of products such as wheat flour, tea, noodles, handicrafts and pashmina resulted overall surge in exports to China, according to the report titled “Current Macroeconomic and Financial Situation.”

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