'Globalisation has triggered slowdown'

By A Staff Reporter

Kathmandu, June 11: The 64th Council Meeting of the Confederation Asia Pacific Chamber and Industry (CACCI) was held in Ulaanbatar, Mangolia from June 4-7.

According to a press release issued by the Asian Textile and Garments Council (ATGC), industrialists and traders from the countries of the Asia –Pacific region stressed the need to promote economic activities.

Participating in the meeting, chairman of the ATGC Brij Gopa Inani said that globalization and the WTO provision have triggered the economic slowdown in the region. The Septmber 11 incidence has intensified the problem, he added.

Inani also submitted the ATGC report to the CACCI president Lee Soo Young and appraised the current development situaiton.

The meeting was also attended by the major chambers of commerce in the region including the China External Trade Development Council (CETRA), Asian Development Bank, Federation of Indonesia Chamber of Commerce and Industry, Federation of Japan Commerce and Industry.

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