The Directorate
General of Foreign Trade (DGFT) has exempted
traders in Sikim from the formality of producing
the mandatory Import Export Code (IEC) number
while trading with China through Nathula.
A notification granting exemption to Sikkimese
traders from this formality was issued by
the DGFT on July 21' 2006, Sikkim Chamber
of Commerce President S K Sarda said quoting
Additional Secretary, Union Ministry of
Commerce, Christy Fernandez here today.
The exemption would remain effective till
further orders, Sarda said.
"Traders of the state are obviously
relieved as removal of this bottleneck means
that actual border trade between the two
Asian giants can begin without a hitch now,"
he said.
Though reopened after over four decades
of closure on July six, no trading took
place through Nathula since traders in Sikkim
did not possess the IEC.
As per the notification, each trader is
allowed to trade consignment worth Rs 25,000
across the border every day, Sarda said.
This limit may also be removed when the
volume of trade through the route increases,
he said quoting Fernandez, who handles matters
related to trading through the route |
