Kathmandu, Nov 10 (RSS)  Vice President Nanda Bahadur Pun has expressed his hope the relations between Nepal and China would be further expanded and consolidated through the means of economic diplomacy. While addressing the 23rd AGM of the Nepal-China Chambers of Commerce and Industry here today, the Vice President insisted on the role of private sector for deepening the ties between the two close nations. Stating that Nepal-China relations founded on the principle of Panchasheel is getting expanded on various sectors, the Vice President said lately new areas of cooperation have been indentified to make such relations wider and deeper. The two neighbours observed the signings of major agreements in the recent years as an effort to take the bilateral relations to a new height, according to the leader. He said that trade status of Nepal was not satisfactory though it identified economy prosperity as its main agenda. He spoke of the need of significant reforms in Nepali economy for building of a prosperous nation founded on the socio-economic transformations. “Until and unless we achieve sufficiency in every sector, it seems not possible for us to increase exports and at this point, prosperity will remain unachievable,” he said, underling the need of seeking a better international market for domestic goods through quality products, promotion of finished products and the implementation of economic diplomacy to promote exports. On the occasion, he said China’s policy to reduce customs duty for 90 percent of goods to be exported from Nepal-like countries to zero is an opportunity to promote the export-based trade and insisted on the need of proper utilization of the policy. China and India are major trade partners of Nepal, he said, adding that it was itself an opportunity for us to have trade relations with China emerging as an economic power hub in the world. As he said, Nepal could explore exports with China with a focus on agricultural produces, herbs and minerals. President of Nepal-China Chambers of Commerce and Industry Tribhuwandhar Tuladhar stressed that there should be initiatives from both sides to operate the two major crossings— Tatopani and Kerung between Nepal and China at full capacity. He said that China’s export business as well as Nepal’s revenue will increase only if the system of setting daily container quotas can be abolished. Charge d’affaires at the Chinese Embassy in Kathmandu, Wang Chen, said that all concerned have equal role in strengthening the economic relations between the two countries. At the program, Himalaya Airlines and Silk Transport were honored for playing a special role in Nepal-China transport and cargo sector. –––