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5th Nepal International Trade Fair kicks offFriday, March 18, 2016 > 10:14:10
The '5thNepal International Trade Fair 2016' kicked off at Bhrikutimandap, Kathmandu, on Thursday. President Bidya Devi Bhandari inaugurated the trade fair amid a colorful ceremony.
The fair, which is being organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in collaboration with Ministry of Commerce, will continue till Monday.
According to the organizers, the fair brings multitude of Nepali and international business enterprises under one roof, allowing them to directly interact with local and international customers and their better business opportunities.
The fair has a total of 350 stalls of companies from Nepal, India, China, Pakistan and Bangladesh, according to the FNCCI. India has 70 stalls while China, Pakistan and Bangladesh have 90, 20 and five stalls, respectively.
There are 165 Nepali stalls.Participating companies are showcasing products like agriculture and forestry, automotive, ayurvedic and herbal, computer and IT, food and beverage, handicrafts, housing and construction, hydro, medical and pharmaceutical, plastic products, renewable energy and textile and garment, among others.
Speaking at the inaugural ceremony, President Bhandari said that the trade fair could be an important platform for Nepal to promote industrial products as well as learn international business ideas and technologies. Stating that the promulgation of new constitution has ended transitional period, she also said that the country should now focus on socio-economic development and attract foreign investment.
FNCCI President Pashupati Murarka said that the fair will help to make economy dynamic and send a message to the international community that Nepal is still a safe destination for investment and that there is favorable environment to expand business and make investment.According to the organizers, the fair will provide opportunity not only for direct sales of various products and services but also offer a platform for manufacturers, traders, dealers and consumers to interact and forge business relationship and make business deals.
"The trade deficit is ballooning and about to surpass the size of country's annual budget. In this context, there is no alternative to increase our exports. Exhibition of our products is one of the ways to boost export and this type of trade fairs establishes contact between manufacturers, and consumers and suppliers," said Murarka.Murarka said that the trade fair has given special focus to products included in Nepal Trade Integration Strategy (NTIS).
He further added that more than two dozen trade fairs organized outside Kathmandu Valley by its chapters is helping to increase economic activities across the country.
Senior Vice President of FNCCI, Bhawani Rana, said there was an urgent need to build exhibition venue of international standard. "Though the government has allocated land at Chobhar for the purpose, work to build exhibition venue has yet to begin," she said. "We are committed to build the exhibition venue on public-private-partnership model."