HEADLINE NEWS THE RISING NEPAL (DAILY)

BY A STAFF REPORTER

Kathmandu, Dec. 14: Prime Minister Sher Bahadur Deuba today said the private sector has to play a pro-active role to increae the country’s export trade and reduce deficit.

"The private sector needs to brace for the expansion of trade and industry sector to fare better in the context of the globalised competitive business environment," Premier Deuba told the 32nd anniversary of the Trade Promotion Centre (TPC) here this evening. "You take initiatives; the government is committed to facilitate your ventures," he appealed to the traders and industrialists.

Minister for Industry, Commerce and Supplies Purna Bahadur Khadka stressed on the need to reduce the cost of production and improve the quality of exportable items to compete with other exporters in the international market. "Otherwise, there is a possibility of facing problems after the country becomes a member of the World Trade Organisation." Nepal is already in the process of getting WTO membership.

Minister Khadka said the TPC should develop a concrete and long-term strategy to promote country’s trade and intensify its efforts to diversify the market for the exportable items.

"The government is fully committed to expand trade and industry sector and it will make sure that there won’t be any hassles and obstacles to business promotion ventures," said Khadka. "The government will be unable to achieve its aim if the traders and industrialists fail to avail of the rights and opportunities they have been offered."

The Ministry of Industry, Commerce and Supplies has recently announced various measures to manage business ventures more efficiently and effectively.

Assistant Minister for Industry, Commercel and Supplies Prakash Bahadur Gurung said the country needs to focus its attention on industrialisation in order to reduce imports. He said the TPC had to work efficiently to assist the exporters.

The Secretary at the Ministry of Industry, Commerce and Supplies Bhanu Prasad Acharya said the TPC should come up with innovative trade promotion approaches to meet the demands of the competitive market.

President of the Federation of Nepalese Chambers of Commerce of Industry Rabin Bhakta Shrestha lauded the government’s procedural measures to facilitate business activities and said the TPC should work more efficiently to consolidate Nepal’s business capabilities before it enters the WTO.

He conceded that the private sector had to be more competitive and also appealed to the government to announce extra incentives to attract more foreign investment in the country.

In his welcome address, TPC’s Executive Director Dev Bahadur Rokaya said the TPC has to be developed into a more independent institution with adequate resource to meet the requirements of the competitive time.

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