On March 21, Chinese Minister of Commerce Gao Hucheng and Nepalese Commerce Minister Deepak Bohora signed the Memorandum of Understanding Between Chinese Ministry of Commerce and Nepalese Ministry of Commerce on Launching the Joint Feasibility Study on China-Nepal FTA, announcing the joint feasibility study on bilateral FTA was officially launched. The two parties agreed to establish the work group to carry out comprehensive studies in the fields of common concern as soon as possible.

In recent years, China-Nepal economic and trade relation enjoyed a constant healthy development. In 2015, China-Nepal bilateral trade volume reached US$ 866 million, and China’s nonfinancial direct investment in Nepal was US$ 32.03 million. China has become the second largest trade partner and the major investment source of Nepal. The establishment of China-Nepal FTA will benefit the further expanding of the bilateral trade and investment, and will inject new vitality to the bilateral trade and economic relation.