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Kathmandu Friday July 27, 2001 Shrawan 12, 2058.
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Export Development Fund redesigning
suggested
Post Report
KATHMANDU, July 26 - In a symposium jointly organised by the
Ministry of Industry, Commerce and Supplies in association with ICT, United Nations
Conference on Trade and Development (UNCTAD) and World trade Organization (WTO), on
Thursday in the Capital, experts have suggested to redesign the existing Export
Development Fund (EDF) and make improvements in the export development programs of the
government.
The experts say that the EDF cannot address exogenous
constraints like weaknesses in export support infrastructure, weaknesses in metrology
standards, testing and quality infrastructure, lack of access to finance required for both
working capital and investment needs and underdeveloped business advisory services.
Similarly, they have pointed out that the Fund cannot resolve
endogenous constraints like lack of technical skills, lack of commercial management skills
and management systems.
Neil Spooner, International Trade Center (ICT) Consultant on
Export Development Fund (EDF) and Bindu D Adhikary ICT National Consultant, expressed the
views while presenting the findings of Feasibility Study Report on Pilot Export
Development Fund at a national symposium here today.
They also pointed out that grants are more appropriate
mechanisms for addressing the kinds of constraints to export development, as grant funding
mechanisms are easy to administer while lending mechanism require more complex
administration and organizational capacity to set finance charges and appraise, monitor
and supervise loans.
Speaking on the occasion, Anant Vijay, Chief of Office for
Least Developed Country (LDC) and Africa, DTCC/ITC said that the changing pattern of
international production and trade has not only created opportunities but also posed
challenges.
ITC has launched a number of important initiatives like
integrated framework for trade related technical assistance and the joint integrated
technical assistance program (JITAD) for LDC and other countries in Africa to assist the
LDCs in taking advantage of the opportunities brought by the trend and programs to
mitigate the challenges, which are relevant to Nepal, Vijay said.
Bhanu Prasad Acharya, Secretary at the Ministry of Industry,
Commerce and Supplies, expressed the hope that Nepal would get assistance in developing
export infrastructure, human resource development, and in the establishmnet of export
processing zone so that it could help Nepal to narrow her trade deficit.
Niranjan Baral, secretary-member of Export Promotion
Committee and joint secretary at the ministry expressed the views that the interaction
would help in establishing Model export development fund.
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