Himalayan Bio Trade Private Limited (HBTL), French company NATEVA and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH have agreed to export semi-processed herbs of Nepal as an ingredient for cosmetic products in Europe.
Acting on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), these companies joined hands for the purpose.
German Ambassador to Nepal Matthias Meyer and the French Ambassador to Nepal Martine Bassereau jointly inaugurated the “Wild and Cultivated Herbs for Cosmetic Products” partnership on Thursday.
The partnership aims at scaling up the value chain of new natural ingredients from Nepal and promote the export of personal care and cosmetic products to Europe, improving rural incomes of small farmers in Nepal.
The German Ambassador for Nepal Meyer said that the partnership would be an innovative example which highlights the importance of international business linkages and the related benefits for a socially balanced economic development. Nepal Trade Integration Strategy (NTIS) 2010 has recognised medicinal and aromatic plants as an important product having huge export potential.
The market for natural and organic personal care and cosmetics products in the European Union is estimated to be approaching 2 billion euro, according to the GIZ.