The 13th Nepal-China Tibet Economic and Trade Fair 2011 is set to begin from Wednesday in the capital with an aim of boosting bilateral trade relations and economic ties between the two nations.

The five-day long fair is being organised by the Trade and Export Promotion Center (TEPC) which will feature the various products from both the nations in some 40 stalls from each country.

According to the organiser, the trade fair is organised in the gap of every two years as per the bilateral agreement signed with the Tibet Autonomous Region of China.

Speaking in a press meet on Monday, Ramesh Shrestha, executive director of TEPC and the coordinator of the fair said that the fair is also expected to attract Chinese investment in Nepal.

The trade fair is also expected to minimise trade deficit with northern neighbor. Nepal exported the products worth Rs. 746 million to China during 2010/11 fiscal year while the same export was worth of Rs. 1 billion during 2009/10 fiscal year.

Similarly, the import of products from China has also increased to worth Rs. 45.63 billion during the last fiscal year from Rs. 39.21 billion the previous fiscal year. nepalnews.com