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It has been more than a week since the start of the Israel-Iran war. Both countries continued to launch missile attacks on each other on Friday. Although the direct effect of the war between these two countries is on the citizens there, the indirect effect seems to be on the Nepali market as well.
Because in the first 11 months of the current fiscal year, it has imported goods worth 1.15 billion 63.88 thousand rupees from Israel, while it has imported goods worth 67.0 million 65 thousand rupees from Iran in the same period.
If the impact of the conflict in Israel, where 5500 Nepalis are employed, increases, it will not only affect the Nepalis living there, but also the goods imported from there to Nepal. Looking at the data received by the Customs Department for almost 6 years, it is seen that the imports from Israel are increasing every year. While the export is 50 million 49 It is worth 18 thousand rupees. In the last fiscal year, goods worth 1 billion 899 million rupees were imported from Israel. The export was worth 42.2 million.
Despite billions of rupees being traded with Israel The annual trade with Iran is negligible. The number of Nepalis in war-torn Iran is also negligible. According to the Ministry of Foreign Affairs, there are only 17 Nepalis in Iran, including 5 who are in jail. In 11 months of the current fiscal year, goods worth 67 million 65 thousand rupees have been imported from Iran.
Our exports to Iran are also negligible. According to the department, in 11 months of the current fiscal year, only goods worth 85 lakh 93 thousand rupees have been exported to Iran. In the last fiscal year, goods worth 28.7 million 13 thousand rupees were imported from Iran. In that year, only 4 million 88 thousand rupees were exported to Iran .
The war between Iran and Israel will have a direct-indirect impact on foreign trade, said Ravi Sainju, former joint secretary of commerce.
Iran does not have that much business in Nepal. But various goods worth billions of rupees are imported from Israel, while exports are in crores," said Sainju. "As the war escalates, there is also a problem in the import-export in America and Europe." He said that although there is not much trade with Iran and Israel, it will also affect the trade with other countries. Said, "The biggest impact is crude oil and the price increase from it."
According to the department, especially soft drinks, glasses and other medical materials were imported from Israel. In the 11 months of the current financial year, only soft drinks have been imported worth 83 crore 15 lakh rupees . Items such as zarda, khaini, and carpets have been exported from Nepal to Israel.
