Nepal has failed to take benefit
from the global trade regime, according to the economists.
Until the country can boost its
production and strengthen economy, Nepal cannot take any benefit from the World
Trade Organisation (WTO), they said, adding that Nepal has been an import-based
economy for long, whereas it must boost its exports to take benefit from the
multilateral trading system.
WTO is only the means, not the
destination, thus Nepal should strengthen its economy to take benefit from the
WTO's agreement, said Federation of Nepalese Chambers of Commerce and Industry
(FNCCI) vice president Pradeep Jung Pandey, speaking at an interaction, here
today.
Nepalis have failed to walk the
talk, he said, adding that the private sector is ready to work with the global
market, but the strong domestic production can only help put Nepal on the
global map.
Since Nepal has failed to take
benefit from the bilateral trade agreements with India, it could be only hope
against the hope to take benefit from the multilateral trade agreements, opined
senior economists Prof Dr Bishwhambher Pyakuryal, on the occasion. "Even
the larger economy like India has failed to take benefit from WTO."
Only being a member of WTO could
not help develop economy, he said, adding that without expansion of Nepal's
export basket and increased domestic production, the WTO agreements would have
no meaning to the country.
Likewise, another economist Dr
Chandra Mani Adhikari also opined that Nepal has to boost export to take
benefit from the WTO.
Likewise, executive
chairman of SAWTEE and trade expert Dr Posh Raj Pandey, on the occasion,
advised the government to learn lesson from the international programmes, apart
from internal management on boosting the production.
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