Tamrakar urges better terms of trade for LDCs Discusses trade issues with various countries

By a Post Reporter

KATHMANDU, Feb 15 - Addressing the UNCTAD-X session, Ram Krishna Tamrakar, Minister of Commerce, urged the UN body to work for the welfare of the Least Development Countries (LDCs).

UNCTAD should work for open market for all the products of LDCs to get zero tariff, simpler rules of origin, GSP facilities and relaxation of trade rules, said the Minister.

Discussing the negative impacts of globalization and the need to correct its negative fall-outs, Tamrakar said, "Process of globalization and liberalization have fallen short of the expectation. Instead of accelerating growth and interdependence, these processes have widened income inequality among countries. The flow of international capital, technology and trade are found uneven which has led these countries to remain out of economic integration."

On the occasion, Minister Tamrakar also urged the developed countries to extend a helping hand to the developing nations. "Export base of LDCs is very weak and there are limited export products originating in LDCs.

Therefore, we urge the developed country partners to provide duty free access to their market for all the products produced in LDCs," said the minister.

During the UNCTAD-X meeting in Bangkok, Thailand, Minister Tamrakar also called on commerce ministers from various countries and discussed issues of mutual interests on bilateral and international trade.

According to a press release issued here today by the Royal Nepalese Embassy in Thailand, Minister Tamrakar called on Supachai Panichpakdi, Deputy Prime Minister and Minster for Trade and requested him for easy access for Nepalese goods to the Thai market. He also urged the Thai deputy premier for the early conclusion of the bilateral trade agreement to facilitate the two-way trade. Besides, Minister Tamrakar also urged Dr Supachai for more Thai investment especially in joint venture projects, says the release.

Dr Supachai is tipped to replace present Director General of World Trade Organization (WTO) Mike Moore sometime in 2002.

Minister Tamrakar also called on Commerce Ministers from India, Bangladesh, and Sri Lanka and held discussions on mutual interests and regional cooperation. Nepal, India, Sri Lanka and Bangladesh are the members of the seven-member SAARC forum, which is eyeing for South Asian Free Trade Area (SAFTA) and eventually emulate into European Union type Economic Union.

During his meeting with the Indian Trade Minister Murasoli Moran, Minster Tamrakar stressed on the need to further promote bilateral trade. He also urged his Indian counterpart to solve the practical difficulties involved in the implementation of the trade and transit treaty signed between Nepal and India.

The Minister also requested Indian cooperation in extending broad-gauge railway facility to Inland Container Depots constructed in Biratnagar and Bhairahawa under the World Bank assisted multi-million Nepal Multi Modal and Trade Facilitation Project. Integrated border management to upgrade the quality of customs, police and immigration working in the border side was also very much in the agenda of the meeting between the two trade ministers, states the release.

Similarly, Minster Tamrakar called on his Bangladeshi counterpart Tofail Ahmed, and requested him to agree on the Transport Treaty proposed by Nepal. He also urged Ahmed to grant tariff concession to Nepalese goods exported to Bangladesh at least at a par with the concession offered to Bhutanese exports.

On the occasion, Bangladeshi Trade Minister Ahmed said they were positive to Nepal’s demand but did not make any commitment outright.

Minister Tamrakar also called on Sri Lankan Minister for Trade and Food and pointed out the importance of direct air link between the two countries to promote trade and tourism.

According to the release, Minister Tamrakar is also expected to call on Trade Ministers of China, Malaysia and United Kingdom during his stay in Thailand.

Hotel employees demand 10 percent service charge

By a Post Reporter

KATHMANDU, Feb 15 - Nepal Independent Hotel Employees Union (NIHE) has demanded with the hoteliers to charge 10 percent service fee on tourists.

This was made public at a news conference organized by NIHE here today.

NIHE at the function also warned the hoteliers of organizing protest programme if they did not fulfill their demands in time.

During the first phase of the protest programme, the NIHE would initiate a process to put pressure on the High Level Committee, that was formed two years back, to submit a report to Labour Minister on 10 percent service fee. The high-level task committee had formed to implement 10 percent service fee on tourists 2 years back. The committee has representatives from Hotel Association Nepal (HAN), Restaurant and Bar Association of Nepal (REBAN), Tourism, Finance and Labour Ministry and hotel unions.

The NIHE has also planned to join hands with hotel unions and district hotel unions among others to invigorate the protest programme. Other programmes announced today include signature campaign of 15,000 hotel employees within two months and its submission to labour minister, tourism minister and HAN. Subsequently, the NIHE will launch nationwide strike in November, 2000, it is said.

President of the Union Mukunda Neupane addressing the function said the system of levying service fees on tourists on the basis of services provided by the hotel employees is a global trend. And if it is implemented in time, tourism revenue would go up which will ultimately develop the system of transparency in the hotel business. It will help in enhancing the living standard of hotel employees, Neupane opined.

Citing the reason to go on a strike, Neupane said, "It is because of failures of Task Committee to implement the 10 percent service charge decided two years back."

Buddha Air adds one more aircraft

By a Post Reporter

KATHMANDU, Feb 15 - Buddha Air Private Limited, one of the successful private airlines, has added one more aircraft to its fleet of three aircraft, reads a press release issued by the airlines here today.

The airlines has brought a Beech 1900 D plane recently.

The press release says, ‘the increasing popularity of the aircraft among the domestic and foreign passengers prompted it to add one more plane to cater for the demand of its passengers’.

The airlines says it has chosen the 19-seater Beech 1900 Ds as the aircraft are certified as the safest planes in the world. Buddha Air is the only domestic airlines that operates its flights with brand new airplanes bought straight from the manufacturers, claims the airlines.

The airlines is hopeful of operating more domestic flights to new destinations with the addition of the fourth airplane to its fleet, the release further says.

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Nepal Stock Exchange
Singhadurbar Plaza, Kathmandu

15 February , 2000

                   Trading Information                                         Trading Price                       

Paid-up value of S. N. 7 is 57.
Paid-up value of S. N. 10 & 13 is 10.
Paid-up value of S. N. 17 is 85.
Paid-up value of S. N. 18 is 50.
Paid-up value of S. N. 20 is 95.
NEPSE Index : 290.98 (2.95) Base : 12th. Feb, 1994 = 100