June 24, 2010 7:27 PM

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PM Nepal launches ‘Nepal Trade Integration Strategy-2010’

Nepal's Prime Minister launched ‘Nepal Trade Integration Strategy-2010’ for sustainable development of trade sector in the country. Launching it a programme in Kathmandu on Thursday, Mr. Madhav Kumar Nepal highlighted the problems faced by the Least Developed Countries (LDC) in the course of rapid economic liberalisation and globalisation.Stating that Nepal government is attaching great importance to the development of trade for inclusive growth, Prime Minister Nepal said with a variety of agro-climatic conditions, rich natural resources and ancient cultural heritage, Nepal possess huge potential for export of goods and services. He however said landlocked countries like Nepal are facing problems of road infrastructure and high transit transport cost due to remoteness of its location from sea and cumbersome administrative procedures. A combination of all these factors has ultimately resulted in considerable erosion of competitive edge of Nepalese products and services in the global market, he added.The Nepalese Prime Minister said his country has joined WTO and two regional trading arrangements – SAFTA and BIMSTEC, hoping that membership with these global and regional trading bodies would result in the expansion of Nepal's trade base leading to a higher level of growth and quality of life to its people. Besides Nepal's Commerce and Civil Supplies Minister Rajendra Mahato, senior government officials and UNDP representatives took part in the programme.Speakers in the programme highlighted the pressing need to strike a fair degree of policy coherence between manufacturing, agriculture, and small and medium enterprises at one end and service sectors like tourism, health and education on the other to cope with the competition in the international market. The speakers called for making trade and investment as a tool for increasing productivity, employment, government revenue and thereby contribute towards the economic growth of a country and raising the living standard of the people.

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