Forum highlights regional growth, attracts global partners in Xizang

LHASA -- International business leaders gathered at a forum in Southwest China's Xizang autonomous region this week, exploring new economic opportunities.

The two-day forum, opened on Friday in Nyingchi and themed "Gathering Trans-Himalaya Strength; Unleashing Development Momentum," attracted 89 domestic and foreign companies, underscoring the region's growing importance in cross-border collaboration. Eleven projects worth 4.8 billion yuan (about $670 million) were signed during the event.

Wang Jingcai, deputy director of the regional development and reform commission, presented an industrial "Opportunity List" featuring nine key sectors including clean energy, cultural tourism and Tibetan medicine at the forum.

Fathuhulla Ali, a health tech company executive from Sri Lanka, expressed particular interest in the region's traditional medicine.

"What impressed me most was the traditional culture. It's incredibly strong and rich," said Ali, managing director of Panaka Health Tech Private Limited. "I'm from the medical supply industry. So basically, what I look forward to is the medical sector. The traditional medicine here is very rich," Ali added.

Zhao Peng, vice chairman of the regional government, emphasized the region's strategic role as China's gateway to South Asia, noting that it has established trade ties with 140 countries and regions.

"Xizang is stepping up efforts to enhance cooperation with neighboring countries and expand high-level opening up to the outside world," Zhao said.

Tusar Tuladhar, managing director of Tunchhe Trans Himalayan Trading Concern, a Nepali company which has been operating business in Xizang's regional capital Lhasa for about 30 years, praised the region's business climate while noting Nyingchi's distinct ecological advantages.

"This is my first time in Nyingchi. There are so many trees, and I see a lot of green here. It's really different from Lhasa," noted Tuladhar. "The business environment in Xizang is good. We have a long-lasting business here, a very long-lasting relationship," he added.

Since 2021, Xizang's trade with South Asian Association for Regional Cooperation members has totaled 14.92 billion yuan, with Nepal accounting for 87 percent. The land ports between China and Nepal have played a vital role.

From January to May this year, Xizang's import-export volume exceeded 3.84 billion yuan, up 13.2 percent year on year, according to Lhasa Customs.

This marks the fifth Trans-Himalaya Forum since 2018, with each iteration strengthening cross-border collaboration in the region.