Over the past five years, the total value of China's import and export with Nepal has surpassed 55 billion yuan, with an average annual growth rate of 11.7 percent, official date showed on Friday.
As an important partner of China in building the Belt and Road Initiative in South Asia, Nepal's trade relations with China is growingly closer over the past several years.
The two countries saw a new historical phase in their bilateral relations following the elevation of their relationship to a strategic partnership in 2019.
In the first 10 months of this year, the total value of China's trade with Nepal reached 11.218 billion yuan (about 1.54 billion U.S. dollars). Among them, the Xizang Autonomous Region's export to Nepal of the "new trio," namely electric vehicles, lithium-ion batteries, and photovoltaic products, amounted to 225 million yuan (about 31 million U.S. dollars), showing a significant year-on-year growth.
This year, China and Nepal have continued to strengthen port construction and improve customs clearance facilitation. The four China-Nepal land ports have been operating smoothly and in an orderly manner, promoting bilateral economic and trade cooperation as well as personnel exchanges.
In the first 10 months of this year, the cargo volume at the four China-Nepal land ports came to 180,000 tonnes, a year-on-year increase of 51 percent.
"In the first 10 months of this year, trade value between Xizang and Nepal reached 3.14 billion yuan (about 432 million U.S. dollars), a year-on-year increase of 46.4 percent, accounting for 28 percent of the total China-Nepal trade value during the same period. The high-quality Belt and Road cooperation has gradually highlighted Xizang's geographic advantage as a gateway to South Asia," said Qiong Da, head of First Comprehensive Business Division of the Lhasa Customs.
China's foreign trade with Nepal surpassed 55 bln yuan over past 5 years
