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China, Nepal sign MOU on FTA feasibility

China and Nepal on Monday signed a memorandum of understanding on a feasibility study on a free trade area, the Ministry of Commerce said on Monday. The two countries will set up a working group to research areas of common concern. China has become Nepal's second-biggest trading partner and its major source of foreign direct investment. China's non-financial outbound direct investment in Nepal was $32.03 million in 2015. Bilateral trade hit $866 million.