Nepal asks China to lower air fare

Nepal has requested China to lower the airfare between China and Nepal.
During the 11th meeting of Joint Consultation Mechanism between Nepal and China held here today in Kathmandu, Nepal has requested to lower the airfare to promote the bilateral trade and tourism.
Both sides, on the occasion, discussed the ways to further enhance coordination and facilitation for the promotion of Nepal’s tourism prospects in China in the context of the Chinese government’s announcement of the year 2017 as ‘Nepal’s Tourism Promotion Year in China’.
The Nepali side also expressed hope that cross-border connectivity, infrastructure development, diversification of Nepal’s trade, promotion of investment and tourism would receive priority in the implementation of the MoU on cooperation under the Belt and Road Initiative (BRI) signed by the two sides on May 12.
The Nepali side also emphasised the need of early resumption of Tatopani-Zhangmu border point. China has agreed to reopen the Tatopani customs point that remains closed since April 2015 when the earthquakes heavily damaged infrastructures on both sides of Nepal-China border. The Chinese side has assured Nepal that China is committed to resuming the operation of the Tatopani customs point once the reconstruction of the damaged buildings and road and protection works of the area are completed. The Chinese delegation also informed the Nepali side that they are investing some Rs 2 billion for the protection and reconstruction works in the area.
Foreign Secretary Shanker Das Bairagi led the 21-member Nepali delegation while assistant minister of the Ministry of Foreign Affairs Kong Xuanyou led the 12-member Chinese delegation for the meeting that assessed the progress made in the implementation of agreements and Memorandum of Understandings (MoUs) reached between the two sides in the past. They also expressed commitment to further promote cooperation in mutually agreed areas. Both sides also agreed to work in realisation of economic opportunities available for mutual benefits.
The visiting assistant minister is scheduled to pay courtesy calls on Prime Minister Sher Bahadur Deuba and Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara tomorrow.
He will also visit the reconstruction projects in Kathmandu being implemented under the Chinese grant assistance.
Kong and his delegation arrived Kathmandu on June 19 to attend the meeting and will depart for Beijing on June 22.
The Joint Consultation Mechanism was set up in 1996 as a platform for discussing the matters of mutual concerns and cooperation at the senior officials’ level between the Foreign Ministries of Nepal and China.
During their visits to China, the then prime ministers K P Sharma Oli and Pushpa Kamal Dahal – both – had asked the Chinese side to reopen the Tatopani-Zhangmu border point. Nepal has also been raising this issue in all other meetings with the Chinese side.

OBOR can be a model project

The One Belt, One Road (OBOR) initiative of China can become a model project of the 21st century, according to chieftain of the Nepali private sector.
Addressing the 12th China-South Asia Business Forum in Kunming, China, today, president of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Bhawani Rana said that the project initiated by the Chinese government can turn out to be a model project of this century as it can help in the economic development of several countries.
“OBOR will also help to revive the socio-economy of the world at large, by creating jobs, capital and prosperity for the whole of humanity," she said. Adding that landlocked countries like Nepal can take a huge benefit from OBOR to develop the nation economically. "The OBOR project will help Nepal to connect with other economically strong countries."
A team of business leaders led by Rana is in China to participate in the forum which will conclude on Thursday.
Organised jointly by China Council for the Promotion of International Trade (CCPIT) and SAARC Chamber of Commerce and Industry (SCCI) for the promotion of international trade, the forum is attended by business leaders of Nepal, India, China, Afghanistan, Bhutan, Pakistan, Sri Lanka, the Maldives, Bangladesh and representatives from SCCI.
Nepal formally became a partner of OBOR initiative on May 12.
Addressing the forum, Rana further said that along with the opportunities arising out of OBOR, Nepal faces new challenges, mostly in its lack of competitive strength and investment capacity. "The private sector of Nepal should produce goods to export to China so that the train that comes full with goods does not have to return empty," she said. "In this, Nepal needs investment in industries which can utilize the newly opened vistas of connectivity."

International trade creates jobs in the developing country: UNCTAD chief

UNCTAD secretary-general Mukhisa Kituyi has defended international trade as the best means for developing countries to create jobs and tackle inequality.
Trade deals became a hot topic in the United States (US) presidential election earlier in the month with president-elect Donald Trump vowing to withdraw from the Trans Pacific Partnership on the first day of his presidency. Earlier in 2016 the United Kingdom (UK) also voted to withdraw from the European Union (EU) on as-yet unclear trade terms.
Kituyi said that while politicians in the global north may be 'getting cold feet' on trade, poorer countries have no choice but to deepen trade relationships.
"As an ex-politician myself, I know that politicians must do a better, more honest job of discussing the costs and benefits of trade," said Kituyi, who before becoming UNCTAD secretary-general served as trade minister in Kenya. "Too often in the global north, leaders, dictated by electoral needs, talk down trade, storing up problems for the future."
"To blame trade for job losses is to use a convenient scapegoat, but it ignores both the benefits of trade and the disruptive nature of technology," he said, adding that trade does not explain the relative decline in labour productivity. Nor does it account for the erosion in social protection."
What trade does do, Kituyi said, is provide the jobs required by rising populations in developing countries. "That is why developing countries are backing new, internationally integrative projects like Africa's Continental Free Trade Area and China's One Belt, One Road (OBOR) initiative."
However, Kituyi said, changing trade patterns are disruptive. He said policymakers must address the effects of change to protect the ultimate benefits of trade.
"At the international level, trade deals need social and environmental safeguards," he said. "Competition policy and consumer protection can help to defend small businesses against the excesses of corporate power."
"The nature of trade is changing, shifting to services, to developing countries, and to more being done online, But it is always going to generate jobs. And this is an urgent priority for any sensible politician, Kituyi concluded.