Sunday, May 19, 2024
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HomeInternationalNepali products Traded via the China trade route to Japan For the First...

Nepali products Traded via the China trade route to Japan For the First Time

Nepal has started the export of goods to third countries using Chinese ports, a significant move after eight years of signing a transit agreement with China. The country, previously dependent on India for international trade, has begun sending products to Japan through Chinese routes.

According to the Department of Customs, Wai Wai Zing Noodles produced in Nepal were exported to Japan via China, marking the first use of Chinese ports for third-country exports since the transit agreement.

Under the transit agreement, Nepal gains access to four maritime and three dry ports in China, reducing its dependency on Indian ports and diversifying its trade routes.

Traders anticipate ease in utilizing China’s Guangzhou port and foresee opportunities for trade growth through the designated trade points specified in the protocol between Nepal and China.

This move aligns with the United Nations Convention on the Law of the Sea, emphasizing the importance of landlocked countries having access to sea routes for trade.

Overall, Nepal’s initiation of trade through Chinese ports marks a significant step towards economic independence and opens up promising opportunities for growth and diversification in its trade relations.

Also Read:https://whatthenepal.com/2024/01/30/tourism-milestone-nepalgunj-now-a-gateway-to-kailash-manasarovar-with-direct-flights/

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