Kathmandu, Apr. 7:  Prime Minister Girija Prasad Koirala has said economic diplomacy has become an integral part of our foreign policy.

Mr Koirala made this remark while addressing a reception held in honor of honarary consuls of  Nepal at the Prime Minsiters residence in Baluwatar today.

Stating that democracy does not flourish in poverty and so we are making all possible efforts to alleviate poverty and improve the living conditions of our people, Mr Koirala expressed confidence that trade and commerce plays a key role in uplifting the economy of a nation.

Globalization may have certain benefits for Nepal but it may also put us in certain difficulties, he said, adding our ability to compete in the global free market is not at  par with that of the developed nations.

Noting that Nepal is not very well known around the world as yet and that is because it remained isolated from the rest of the world for a century until 1950, the Prime Minsiter said that even when it opened its door to the international world, the process of our communication  was rather slow during the last 50 years.

Thanks to the  revolution in communication technology, we are on the internet, he further said.

On the occasion, the consuls and consul generals had presented their suggestion and opinions to the Prime Minsiter.

Home Minister Govinda Raj Joshi   who is also looking after the foreign affairs portfolio, Minister for Industry and Commerce Ram Krishna Tamrakar, Minister of State for Industry and Commerce Narendra Bikram Nemwang and senior officials at the Ministries of Industry and Commerce, and Foreign Affairs were also present on the occasion.