May 8, 2021

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Nepali traders in financial crisis to stop exports to China

Nepal is suffering greatly from the decision to close China’s border to prevent coronavirus infection. A large number of Nepali entrepreneurs are facing financial crisis due to their inability to export goods to China.Rajesh Kazi, former president of the Nepal Chamber of Commerce, said, “Exports of carpets, thankas, silver jewelery, wooden handicrafts, pashmina and idols from Thamel, Patan and Bhaktapur are almost nil. The Nepal Chamber has more than 600 members. Traders were exporting goods by road and air. But they are not able to make a profit due to increase in rent and various charges.

Dinesh Shrestha, Secretary, Ministry of Industry, Trade and Supplies, said, “They are in constant touch with the Ministry of Foreign Affairs and the Chinese government. However, he is not able to make any progress right now.
According to the Kathmandu Post, the Kerung and Tatopani border points have been reopened, but imports and exports have not started.

Manish Lal Pradhan, chairperson of the Export Promotion Center of the Federation of Nepalese Chambers of Commerce and Industry, said, “Exports from Nepal to China have been suffering since the closure of the Tatopani trade center.”

Nepali businessmen have accused China of imposing an “undeclared trade embargo”. This is because container trucks carrying their goods have not been allowed to cross the border into Nepal for more than 18 months.

China closed its border points between January and October last year due to the epidemic, and the border was closed after January 20 this year. In this situation, Nepal’s manufacturers and exporters are facing a difficult time. Many have started looking for other sources of income.

China is desperate to strengthen its military. The Hainan, a Type 085 amphibious ship, is now the largest and most ambitious project of the PLA Navy in China. Weighing about 40,000 tons, the ship is capable of carrying 30 helicopters and more than 100 troops at a time. Able to transport Chinese Marine Corps almost completely and land them in hostile areas.

According to an Asia Times report on Wednesday, Chinese President Xi Jinping inaugurated the ship (Hainan) at Sanya seaport on Friday. Since then, military concerns in the region and around the world have grown.

Meanwhile, the UK Express reported that Carl Schuster, a former captain and defense adviser to the US Navy, had expressed concern about the launch of the new ship. He said Western armed patrols should be intensified immediately to counter the new threat in the South China Sea.

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