Trade and investment volumes between China and Nepal grew fast during the past few years as the two neighboring countries enhanced their economic ties, official data showed Monday. Bilateral trade increased 24 percent year on year to hit 85.04 million U.S. dollars in January 2017, according to Jiang Zengwei, chairman of the China Council for the Promotion of International Trade.
In the past decade, bilateral trade has surged from 108 million U.S. dollars to 888 million dollars, Jiang said at the “Roundtable on Investment Opportunities in Nepal” in Beijing. Direct investment of Chinese enterprises in Nepal has reached 355 million dollars in total as of the end of January, covering fields such as hydroelectricity, aviation, minerals and medical treatment.
China is Nepal’s biggest source of foreign direct investment and its second-largest trade partner, officials from Nepal said at the roundtable. The Nepal government welcomes more investment from Chinese entrepreneurs in key areas including infrastructure, oil, modern agriculture and tourism, they said. Nepali Prime Minister Pushpa Kamal Dahal is paying an official visit to Beijing.