This photo taken on March 13, 2023 shows the Gyirong port in Gyirong County of Xigaze, southwest China's Tibet Autonomous Region. (Xinhua/Sun Fei)

LHASA, July 27 (Xinhua) -- The volume of trade between southwest China's Tibet Autonomous Region and Nepal increased 4.7 percent year on year in the first half of 2023, a local official said.

The volume of trade between Tibet and Nepal totaled 814 million yuan (about 114 million U.S. dollars) from January to June, said Gao Baojun, deputy secretary general of the Tibet regional government, at the 11th Meeting of China's Tibet-Nepal Trade Facilitation Committee.

Nepal is the most important trade partner of Tibet, Gao said, adding that trade between the two sides has maintained a growth trend since the ports of Gyirong, Zham and Burang resumed two-way trade earlier this year.

Nepal has long been a major destination for Tibet's outbound direct investment and an important source of foreign capital. So far, Tibet has invested in 20 projects in Nepal, with the total investment exceeding 87.33 million U.S. dollars.

Tibet is home to over 60 foreign-invested companies from Nepal, which have generated more than 13 million U.S. dollars in investment, Gao said.

From 2021 to 2025, Tibet plans to invest 600 million yuan in 20 port infrastructure projects to further improve port clearance conditions and functions, he added.