The United Nations Development Pragramme (UNDP) has stressed for the need to translate trade potentials of Nepal for human development in order to ensure equitable economic growth for all the people.
The first Asia Pacific Human Development Report 2006 entitled ‘Trade on Human Terms” made public worldwide on Thursday states that the Asia-Pacific region has one of the fastest rates of growth in international trade.
The report has suggested for investment to enhance competitiveness, frame strategies and trade policies, focus for promotion of agriculture, combat jobless population, design new tax regime, establish stable exchange rates, resist multilateralism and cooperate with the neighbouring countries to achieve economic prosperity in a shorter period.
UNDP Resident Representative in Nepal, Matthew Kahane, speaking during the launch of the Asia-Pacific Regional Human Development Report 2006: ‘Transforming Trade for Human Development in Asia and the Pacific’, Thursday, June 29 06. nepalnews.com/ANA
UNDP Resident Representative in Nepal…
Speaking on the launching ceremony, residential representatives of the UNDP in Nepal Mathew Kahane said that Nepal doesn’t follow the trend seen in other countries of the region that can enhance the capabilities of trade and economic growth. “In a country where most people rely on farming, a trade strategy based on human development has to have agriculture at its core,” he said.
He further said, “As Nepal embarks on its peace process, a trade strategy that fosters growth in jobs and key sectors like agriculture could significantly rejuvenate an economy battered by conflict.”
Finance Minister Dr Ram Sharan Mahat said Nepal is in need of support from the international community for revival of economic growth which has been hit hard by the internal conflict. He said the political actors in Nepal must commit for peace and democracy if economic prosperity was their target.
Sitaram Yechury
Finance Minister Mahat (file photo)
Minister Mahat urged the private sector to contribute for investment for eradication of poverty and not to concentrate merely on income from businesses and trade.
Governor of Nepal Rastra Bank Bijay Nath Bhattarai said the Least Developed Countries (LDCs) like Nepal has not been able to benefit from the World Trade Organization due to restrictions imposed by the developed countries.
President of Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Chandi Raj Dhakal said the government must do necessary homework before opening the national market for international trade and urged the government for huge investment to revive economy and address the growing jobless population.
On the occasion, Kahane and joint secretary at the finance ministry Rameshor Khanal signed an agreement for the assistance package of one million dollars to Nepal to explore Nepal’s trade potential in education, health and high-end retail services.
The project will work with the private sector to enhance their capability and improve the enabling environment for trading entrepreneurs, make Nepali exporters more competitive in the world market, enhance institutional capacities to analyze the content and impact of trade policies and launch special economic zones.