Nepal to raise LDCs issues seriously: Koirala

Nepal will raise the development issues of Least Developed Countries (LDCs) seriously in the global trade regime's meeting, said commerce and supplies minister Shankar Prasad Koirala before flying to Bali to take part in the ninth Ministerial Conference of  World Trade Organisation (WTO) scheduled for December 3-6.

Nepal is the chair of the LDCs.

As the chair Nepal will raise three key issues – agriculture, trade facilitation and development of LDCs – in the meeting, he said, adding that Nepal will highlight the issues of duty-free quota-free market access, preferential rules of origin, and implementation of services waiver. "Likewise, the implantation of the past decision of developed nation to provide atleast 97 per cent – and maximum cent per cent – concession in the context of the duty-free quota-free is significant for the LDCs."

Likewise, various developed countries that import goods from LDCs have their own standards and criteria for Rules of Origin. "Nepal will lobby for a uniform and harmonised Rules of Origin for LDCs," he added.

The LDC group has drafted a new Rules of Origin formula.

The eighth WTO Ministerial Conference in Geneva on December 2011 had decided on various issues including adoption of waiver to provide preferential treatment to services and services suppliers of LDC members, and Nepal will look into these issues and their implementation status.

Nepal became the 147^th member of global trade reime in 2004.

However, there are 159 members in the WTO.