China has shown fresh interests in the development of hydropower in Nepal. “There are opportunities for Chinese hydropower companies to participate in hydropower generation in Nepal,” said Qiu Guohong, Ambassador of China to Nepal, addressing the Nepal-China Non-Governmental Cooperation Forum meeting here in the valley today.

He pointed out that Nepal has abundant water resources, with potential water storage capacity of 83 million KW, which is 2.3 per cent of the water storage capacity all over the world. Out of which, 42 million KW can be used for generating electricity.

“If the Chinese hydropower companies present in this forum can have a clear understanding regarding policies, status and opportunity for hydropower investment in Nepal, the investment in the sector can be increased, which is suffering from power shortage due to inadequate hydropower stations,” he said, adding that the economic cooperation and trade between these two nations have expanded in recent years.

“In the first half of this year, trade volume between Nepal and China has increased by 70 per cent and Nepal’s export has increased by 198 per cent,” the envoy added.

“China’s expertise in energy sector can be utilised in Nepali hydroelectricity sector from small projects to mega ones. 

This forum will help in paving the way for the collaboration between our countries in the field of power, which is desperate need at present,” said Kush Kumar Joshi, president of Federation of Nepalese Chambers of Commerce and Industries (FNCCI). “Increased sustainable trade between our nations has to be the priority,” he said, adding that the forum would help in creating an economic linkage between two nations for sustainable and accelerated growth. 

Forum initiatives have led to convertibility of currencies of two countries, greater Chinese investment in Nepal, exposure to tourists and increased number of direct flights. The forum asked the private sector to take responsibility of taking economic, cultural and scientific ties to the path of growth and mutual benefit, he said. 

“The Chinese investment in the sectors such as hydropower, mines, agriculture, pharmaceuticals, banking and tourism among others, will be highly appreciated by Nepal,” said Rajesh Kazi Shrestha, chairman of Nepal China Chamber of Commerce and Industry (NCCCI).

The Nepal-China Non-Governmental Cooperation Forum was established in 1996 with the initiatives from the business organisations of the two countries. Moreover, the forum is an example of partnership between the government and the non-governmental organisations for the development of relation between the two countries. “The forum like this will definitely enhance the cooperation in investment, trade and economic development,” Shrestha said adding that the recent agreement between the two nations regarding zero tariff facilities to some Nepali products in China will do a lot of good in trade promotion. 

He also sought help in promoting Nepal Tourism Year 2011 in China. This years’ conference has observed participation from different business people affiliated to All-China Federation of Industry and Commerce (ACFIC). The forum was inaugurated by the chair of the Constitutional Assembly (CA) Subash Chandra Nemwang.

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