Nyingchi: 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 U.S. dollars) were signed during the event.

According to Namibia Press Agency, 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, noting its potential in the medical supply industry.

Zhao Peng, vice chairman of the regional government, emphasized the region's strategic role as China's gateway to South Asia, highlighting 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 with a longstanding presence in Xizang's regional capital Lhasa, 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," remarked Tuladhar.

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, marking a 13.2 percent increase year on year, as reported by Lhasa Customs.

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