An agreement, on Letter of Exchange (LoE) for zero-tariff on 4,721 Nepali products exported to China, has been signed by the Secretary of Ministry of Commerce and Supplies (MoCS), Purusottam Ojha, and Qui Guohong, Chinese Ambassador to Nepal.
Before signing the agreement, around 10-35 percent customs duty was imposed on Nepali products that were exported to China. This agreement will assist Nepal to balance trade deficit with China, pointed Ojha. He further added that, 361 products out of 4,721will get direct export rate benefits under this agreement.
He further informed that, products including carpet, leather and silverware will enjoy zero-tariff in Chinese market. Tariff free entry has earlier been announced by China for products of Least Developed Countries (LDCs).
The bilateral trade among both countries, during the year 2009, stood at $414 million. Carpet, garments, textile cotton clothes, wool, leather products are among the key Nepali products that are being exported to China and have been offered duty free access to Chinese market.
Fibre2Fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
