Nepal set to promote pashmina products in China via Belt and Road platform

KATHMANDU — The Belt and Road International Trade and Investment Platform, a mutual exchange platform of global purchasers and suppliers, has agreed to promote Nepalese pashmina products in China, local chapter of the platform said.

The international trade and investment platform was formed with a joint initiative of chambers of commerce, associations and authoritative organizations from countries and regions along the Belt and Road routes.

The Belt and Road Initiative, proposed by China in 2013, aims at building a trade and infrastructure network connecting Asia with Europe and Africa along the ancient trade routes of the Silk Road.

A local chapter of the platform, launched in November, said a team of the international platform had come to Nepal recently to take part in the Nepal Investment Summit on March 2-3.

Bhaskar Raj Rajkarnikar, chairman of the local chapter, told Xinhua that an understanding has been reached between the two sides on selling Nepalese pashmina in China, one of the largest markets in the world through the platform.

"Nepal has got a huge opportunity to increase exports of Nepali pashmina to China," he said.

According to Shanker Prasad Pandeya, president of Nepal Pashmina Industries Association, the platform agreed to help market Nepalese pashmina products in China after Nepalese entrepreneurs provide information about the Nepalese products.

"Agreement has not been signed on the matter, but understanding has been reached," he said.

As of first seven months of the current fiscal year starting in mid-July 2016, Nepalese pashmina worth $201,149 was exported to China, according to the statistics of Nepal Rastra Bank, central bank of the country.

Western countries including European countries and the United States have been the key markets for Nepalese pashmina products so far. But Nepalese entrepreneurs say that China has also been emerging as an important market for Nepalese pashmina.

Pandeya said, "It is a growing market and we can take benefit of Chinese market with the help of Belt and Road investment platform."