Nepal participated in Biofach Trade Fair 2022 in Nuremberg, Germany.

Mr. Rabindra Duwady, Deputy Director, and Mr. Govinda Acharya, Senior Officer of Trade and Export Promotion Centre (TEPC) coordinated and participated in the Nepal Pavilion in Biofach Trade Fair (26-29 July 2022) happened in Nuremberg, Germany.  The Nepali National Pavilion in the Biofach was facilitated by the Embassy of Nepal in Berlin in collaboration with the Ministry of Foreign Affairs. Here the promotion of Organic Products from the farms of Nepal was the main objective to participate in Biofach Trade Fair held on 26-29 July 2022 in Nuremberg, Germany:  The Nepali National Pavilion in the Biofach was facilitated by the Embassy of Nepal in collaboration with the Ministry of Foreign Affairs, Ministry of Industry, Commerce and Supplies, Trade and Export Promotion Centre (TEPC), Nepal Herbs and Herbal Products Association (NEHHPA), and Import Promotion Desk (IPD), Germany, to the 6 Nepali companies from Nepal. Furthermore, the pavilion was utilized to promote the Tourism Industry of Nepal by distributing the tourism brochures and screening the tourism promotional videos of Nepal. Some selected pictures of the event, including the inauguration of the Pavilion by H.E. Ambassador Ram Kaji Khadka.

While announcing the budget speech on Jestha 15, 2079 Honorable Finance minister announced that 8% of cash subsidy will be on exports of products such as cement, clinker, Steel, footwear, processed water, IT based business and others. It is expected to uplift the export and reduce the trade deficit.

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.

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.”