Nepal bans imports of luxury goods amid dwindling forex reserves
The government response follows growing concerns that the country could face an economic crisis.
The government response follows growing concerns that the country could face an economic crisis.
The announcement comes after a prior statement that said the ban would only cover refined, bleached, and deodorized palm olein.
According to 2021 data, only 16.29 million out of a total 46.89 million tons of crude palm oil was bought by the domestic market.
Jokowi had said that exports of cooking oil and its raw material would be banned, but did not mention details.
As a new form of foreign trade, cross-border e-commerce has become an important driving force for stabilizing China's imports and exports, and has witnessed rapid growth.
Pointing out that India is a young nation, he also stressed the need to fully realize the potential of the demographic dividend.
China's exports to the US surged by 16..7 percent year-on-year to $138.89 billion in the first quarter of 2022, up from the 13.8 percent growth registered in the first two months
Less than 20 percent of the edible oil that Nepal imports is consumed in the country, with the remaining re-exported, almost all to India.
In 2021, bilateral trade between the two nations hit US$165.9 billion, up 24.6% compared to 2020.
Mr Johnson also said he hoped the UK would finalize another free trade agreement with India by the end of the year.