Tibet's foreign trade sees growth for five consecutive months - Economy & Society - Tibetol

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Tibet's foreign trade sees growth for five consecutive months
By:chinatibetnews.com
update:October 26,2016
Oct. 26, 2016 -- Since the beginning of 2016, Tibet's foreign trade has gradually warmed up. The total value of Tibet's import and export amounted to 3.8 billion yuan (577.76 million U.S. dollars) in the first nine months of 2016, a year-on-year decrease of 7.49 percent, but it is an increase for five consecutive months.

With a borderline of more than 4,000 km, China's Tibet links with Burma, India, the Kingdom of Bhutan and Nepal. In recent years, thanks to the new round of West Development, Tibet's transportation gets great improvement, which accelerates the steady growth of foreign trade.

About 90 percent of land trade between China and Nepal happened in Tibet's Zham port. Because of an 8.1- magnitude earthquake in Nepal on Apirl 25 of 2015, China-Nepal international highway was blocked, which disrupted the land trade and tourism communication between China and Nepal.

According to the data from Lhasa Customs, the total value of Tibet's import and export was 5.65 billion yuan (835 million U.S. dollars), down 59.2 percent over the same period of last year.

On Oct. 13 of 2015, half a year after it was closed because of Nepal earthquake, Gyirong port was reopened, aiming at recovering the trade pass as soon as possible. Since the beginning of this year, Gyirong Customs actively carries out a series of measures for promoting the steady increase of Tibet's foreign trade. Combing with its regional features, Gyirong port pushes forward the development of border trade.

At the moment, Gyirong port is Tibet's largest port in border trade. In 2015, the value of import and export goods via Gyirong port was 598 million yuan (88.25 million U.S. dollars), an increase of 7.35 times compared with 2014.

Currently, with prominent regional features and broad prospects for development, Gyirong port will become one of China's main ports for promoting bilateral trade between China and Nepal.

By: Zhu Shan

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