The 7th Nepal International Trade Fair kicked off at Bhrikutimandap on Thursday. The five-day event organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has on display a wide range of consumer goods, construction materials, energy services, information technology and electronic equipment from domestic and Indian, Pakistani, Chinese and Bangladeshi manufacturers.

The apex association of the private sector has chosen the theme ‘Showcasing Nepal & The Globe’ for this year’s exhibition. As per the organiser, the fair contains 300 stalls including 74 stalls from China, 22 from Pakistan and 15 each from India and Bangladesh. 

Dil Sundar Shrestha, chairman of the fair organising committee at the FNCCI, said the fair was designed to explore B2B relationships and possibilities of attracting joint investment in various areas with high market potential. 

Domestic products such as trekking shirts made out of special fabrics, readymade garments from Himalaya Mountain, food items and footwear are on show at the fair. Similarly, leather goods from Pakistan, women outfits from Bangladesh, accessories from India and electronic equipment like generators and water pumps, food items and outfits from China are among the exhibits at the exhibition. 

Inaugurating the trade fair, Prime Minister KP Sharma Oli said the exhibition should be able to spread the message on the country’s improving investment friendly environment to the international market. According to him, the government has adopted the policy of promoting and protecting foreign investment with the view of narrowing the widening trade deficit. 

Finance Minister Yubaraj Khatiwada said the government would play a key role to develop a favorable environment for the private sector. Khatiwada underscored the need for foreign investment mainly for technology transfer and employment generation. “The government is not a competitor to the private sector. It will play a complementary role with businesses to accomplish the national target of reducing the trade deficit and achieving sustainable development.”

Likewise, Minister for Industry, Commerce and Supplies Matrika Yadav said the exhibition would contribute to achieving the targeted economic objectives. According to him, the government has adopted a zero-tolerance policy against corruption to achieve the economic objectives. “By eliminating the practice of bribing government officials by entrepreneurs to accomplish their vested interests, the government has aimed to promote a healthy relationship with the private sector,” Yadav said. 

The organiser said it expected a total footfall of 200,000 during the five days of the trade fair.