Thursday, February 17, 2011

Nepal government and private institutions should increase their capabilities and reap the benefits of multilateral trading and Doha Round

Economists and business leaders of Nepal said that the Nepalese government and the private sector should now focus on increasing their “institutional capacity” in order to reap the benefits of the “multilateral trading system and the Doha Round.”

Renowned Nepalese economists and business leaders came together at a dialogue that took place in Katmandu on February 16, 2011. Titled ‘How Nepal can benefit from the Multiple Trading System and Doha Round,’ the dialogue was jointly organized by the Ministry of Commerce and Supplies (MoCS) and Nepal Enhanced Capacities for Trade and Development (NECTRADE).

Dr. Puspa Raj Rajkarnikar, former member, National Planning Commission (NPC) said that Doha Round had been instrumental in boosting the multilateral trade of the least developed countries (LDCs). He said that Nepal still could not take the opportunities provided by WTO.

The problem of Nepal is that it is still facing political instability. Though the country got a new government after seven months, it has not been finalized. The two major parties are still fighting over various issues. Jhala Nath Khanal, the current Prime Minister is facing pressure from the senior leaders of his party who oppose the “Seven Point Agreement” Khanal signed with the Maoist Chief Prachanda. Unless there is political stability, Nepalese economy will not see much growth in near future.

Related articles:

The Himalayan Times

The Rising Nepal

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