Nepal to promote pashmina products in China one of the largest markets

Nepal has got a huge opportunity to increase exports of Nepali pashmina to China. Nepal through Belt and Road International Trade and Investment Platform in China which was formed with a joint initiative of chambers of commerce and associations from countries and regions along the Belt and Road routes, a mutual exchange platform of global purchasers and suppliers, will promote its pashmina products.

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, said that an understanding has been reached between the two sides on selling Nepali pashmina in China, one of the largest markets in the world through the platform.

According to Shanker Prasad Pandeya, president of Nepal Pashmina Industries Association, the platform will market Nepali pashmina in China after entrepreneurs provide information about the products. He said that an agreement has not been signed on the matter, but understanding has been reached.

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

Western countries including European countries and the US have been the key markets for pashmina products so far. But Nepali entrepreneurs said China had been emerging as an important market for Nepali pashmina.

It is a growing market and they can take benefit of Chinese market with the help of Belt and Road investment platform.

The 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.