China (Shanghai), Nov 5, The Second China International Import Expo (CIIE) that kicked off in China’s financial capital, Shanghai, on Tuesday is a highly important platform for Nepal to showcase and sell its quality merchandise. The mega business event can perhaps serve as a bridge between Nepali producers and world’s buyers, the Chinese in particular.
The CIIE, in which some heads of state and of governments including Chinese President Xi Jinping were in attendance, witnessed the presence of business leaders and the media persons from all over the world is worthwhile and rewarding for Nepal too. From November 5-10, CIIE is hosting thousands of foreign enterprises including world’s leading companies from 150 countries and regions on the theme of ‘New Era, Shared Future.’
The trade conglomerates have gathered together with the Chinese buyers in the expo, an opportunity for participating Nepali business persons to market their products and identify new buyers. In his inaugural speech, Chinese President Xi Jinping on Tuesday announced to give greater importance to imports and to further open Chinese markets.
“We will take steps to promote balanced development of both imports and exports, of trade in goods and services, of two-way trade and investment, and of trade and industry,” the Chinese leader said in his speech. On the occasion, he proposed ideas to work together to build an open world economy through cooperation with innovation for mutual benefits while announcing to open up Chinese market, continue to optimize its opening-up structure, continue to improve the business environment, continue to deepen multilateral and bilateral cooperation and continue to advance Belt and Road cooperation.
As the world’s second largest economy and most populous country with a rapidly rising middle-income population, China offers a vast market for the whole world. Over the past 40 years since its fundamental reforming and opening up to the world, China’s path to development and innovation has been an exemplary, especially for the countries like Nepal. As China is Nepal’s close friend and immediate neighbor, the Chinese experiences on economic gains through special economic zones and free trade zones could be imitable for Nepal too for its economic benefits as the south Asian country is grappling with poverty and has derelict infrastructure.
This was resonated in President Xi’s speech. He said, “We need to work in real earnest to implement the UN 2030 Agenda for Sustainable Development and increase support for the Least Developed Countries so that the benefits of development will reach more countries and peoples”. “We need to continually bring down trade barriers, optimize global value and supply chains, and jointly foster market demand,” he emphasizes.
Chhabindra Parajuli, Economic Minister at the Embassy of Nepal in China, told RSS that the CIIE would help Nepal and Nepali traders to establish reliable and sustainable trade linkages, thereby promoting our exports to China. “Our business activities and volume of exports will accelerate. The Chinese buyers will know more about our products while the importers from China will make demand from Nepali exporters due to the CIEE,” Parajuli added.
A team of government officials including Secretary at the Ministry of Commerce Dr Baikuntha Aryal, Executive Director of Trade Export Promotion Centre Sharad Rana and Parajuli is representing Nepal in the expo while Nepal has its medium-sized pavilion along with Nepali products where thousands of visitors are expected to visit.
As innovation-driven development is essential to sustained growth of our economy, the traders and producers are expected to establish connections with other companies in such an event for major breakthroughs. Thus, the Shanghai CIIE could become a pathfinder as well as a tool to go around and see new market for our trade diversification by exporting Nepali products in the Chinese markets.
