Reasonable Demand
WITH the rapid pace at
which globalisation is transcending political borders, the developing countries are facing
stiff competition in the international market. The countries reeling under enormous debt
burden have too are trying to be a part of the global trading regime to draw maximum
benefits and rescue their ailing economies. Nepal too has been a keen observer of the
paradigm shift in the world economic order over the past decade. With the clock ticking,
it is preparing to meet the eligibility requirements to acquire the membership of the
World Trade Organisation. There are many scores that remain to be settled before Nepal can
cash in on the plethora of opportunities offered by open markets with falling tariff
barriers. Despite all out efforts to increase its competitive edge in the global market,
Nepal is still witnessing a number of drawbacks. The stark reality is that it still needs
concessions on goods exported to foreign markets in order to promote its exports and
reinvigorate its sagging economy. The other drawbacks impeding its economic growth are
poverty, illiteracy, disease and lack of physical infrastructure. Finance Minister Dr. Ram
Sharan Mahat has appealed to the developed nations to assist the poor and developing
nations to eradicate the worst forms of poverty, promote education, tackle HIV/AIDS,
malaria and other diseases so that they too can boost their economies. Addressing the
conference on Financing for Development held in Monterrey, Mexico recently Dr. Mahat also
called upon the developed nations to assist the poor countries in building infrastructure
as well as to manage their conflicts, crime and the environment. If the disparity between
the rich and the poor countries is to be removed, the rich countries should waive the debt
burdens and accordingly help them move ahead to compete in the global market. Dr. Mahat
widely also hailed the assistance which Nepal has been getting from its donors to fight
poverty, illiteracy and disease. He was right in saying that Nepal has utilised the
assistance to a great extent which has been reflected by the progress it has achieved in
different sectors. He also called upon the developed countries to give duty free access to
all advanced markets and particular attention paid to build their capacities to trade.
This is indeed a timely and reasonable demand made by Dr. Mahat in view of the
difficulties which Nepal and other developing countries are facing to keep abreast with
the rapidly developing global economic order. While the demand is very valid, the
developing nations too must work earnestly in utilising the funds given to them by the
donors. Provided that they utilise the development aid effectively and curb corruption,
which is often pointed at by the donors, there is no reason why the donors should hesitate
from waiving the debt burdens.
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