Exchange of Notes on the Chinese Government's Offering Zero Tariffs on Nepalese Commodities Officially Signed

On May 14, 2010, Mr. Qiu Guohong, the Chinese Ambassador to Nepal, and Mr. Orge, the Secretary of Department of Commercial Supplies of Nepal, officially signed at the Department of Commercial Supplies of Nepal the exchange of notes on the Chinese Government's Offering Special Tariff Preference to Part of Nepalese Products Destined for China.

With respect to the zero tariffs on Nepalese commodities provided by the Chinese Government, Mr. Orge proposed that people from the industrial and business circles in Nepal shall organize a seminar on the list of zero tariffs to dig for potential exports, making the most of the trade opportunities the zero tariffs may bring to Nepal. Ambassador Mr. Qiu Guohong stressed that China is to continue opening up the market and to gradually lower the tariffs, it is also hoped that Nepal may make good use of platforms such as the "South Asian Countries Commodity Fair" and "Western China International Fair" to explore the Chinese market and expand exportation; meanwhile, to achieve the upgrading and updating of industries through accelerating the construction of export processing zones, attracting foreign capital, and producing new products suitable to the needs of the Chinese market.

It is reported that China will gradually offer zero tariffs to 95% of the products in the least developed countries. In 2010, 60% of the products apply to zero tariffs first.