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High time that Nepal diversified its imports


08 March 2020  

Time taken to read : 2 Minute


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KATHMANDU: Even though Chinese products have traditionally been popular in Nepal because of the increasing flow of cheap but good quality Chinese items over the last few years, the excessive inflow of products over a period of time has impacted the erratic trade balance between the two countries affecting Nepal adversely.

Chinese products have been sold in the capital and throughout the country.

The northern neighbor has ventured into innovative means of using cheap labor in different countries to produce goods in China. This mechanism has produced local employment as well.

Meanwhile, in the light of the coronavirus, it has been quite evident that Nepal’s dependency on China is not worthwhile as there is a sudden halt in the supply of Chinese stuff. Moreover, a desperate situation has been created among traders who depend on the Chinese products.

Chiefs of the traders association dealing with Chinese products have mentioned that exclusive dependency on Chinese products was a flaw and should be avoided in future.

Several traders dealing with Chinese products have been suffering in the light of the prevailing uncertainty of supply of goods and are desperately considering other options for the future.

Most traders feel that there is a need to diversify their imports from countries such as India, Bangladesh and Thailand, even if the cost of products is more, as exclusive dependency on Chinese imports has proven seriously damaging.

Meetings are being held by various trade organizations to take a call on the issue.

Given the fact that the subsistence level in Nepal has gone up several folds, Nepali people are in a position to purchase better quality products from other countries even if for a slightly higher cost rather than depending on the Chinese products.

Publish Date : 08 March 2020 18:41 PM

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