KATHMANDU, Dec 23:
Business people have welcomed the decisions taken by the Inter-Governmental Committee (IGC) meeting between Nepal and India on Sunday, saying that the decisions are in favor of Nepal.
They, however, have stressed the need to make efforts for implementation of the agreements.
The commerce secretary-level meeting between Nepal and India concluded on Sunday, approving almost all the agendas tabled by Nepal. Talking to Republica, Udayaraj Pandey, executive member of Federation of Nepalese Chamber of Commerce and Industry, said the trade talk has given an opportunity to Nepal to expand its trade.
Pandey, who is also the President of Garment Association of Nepal, further said
the government should utilize the opportunity by making continuous efforts for implementation. He also suggested putting in place a mechanism to make sure that the agreements are implemented.
Pashupati Murarka, vice-president of FNCCI, said the agreement will play a big role in expanding Nepal´s foreign trade. “However, there must be a coordinated effort by Nepali stakeholders for the implementation of the decisions taken by the bilateral trade meeting,” Murarka added.
He, however, added that failure to operationalize Vishakhapatnam port for Nepal´s third country trade will affect import and export business.
“Traders are already complaining of hassles at Kolkata port. That is why the private sector pushed the government to propose India to open new port for Nepal´s foreign trade,” he added.
India had agreed in principle to let Nepal use second port for third country trade during former Prime Minister Madhav Kumar Nepal´s visit to New Delhi. However, no agreement could be reached for operationalizing Vishakhapatnam port because of India´s proposal of introducing double lock system on the containers.
Opening of bulk cargo and additional transit route of Bhairahawa and Jogbani will facilitate in bilateral as well as third country trade, said Abinash Bohra, president of Morang Merchants Association.
India has also agreed to remove non-tariff barrier on Nepali exports. This will help make Nepali products more competitive in the Indian market, according to traders.
Failure to address trade deficit
Birgunj, Dec 25
Private sector representatives have lamented that the major problems of the Nepal-India trade were not addressed as per their expectation during the recently concluded Inter-Governmental Committee (IGC) - a commerce secretary level meeting -- between Nepal and India.
They have said that the meeting failed to take any concrete decision toward reducing Nepal´s ballooning trade deficit with India.
Earlier, Birgunj Chamber of Commerce and Industries (BCCI) had submitted its agenda to the Nepali side to table it in the IGC meeting. One of the main agendas in the list submitted to government was to reduce trade deficit between Nepal and India.
“Unfortunately, the issue didn´t figure in the 14-point agreement that was made public after the IGC meeting,” BCCI president Ashok Kumar Baidya told Republica, adding, “It seems that the important agendas were ignored in the meeting.”
He argued that the Nepali side failed to present its agenda in a proper way. Baidya, however, welcomed decisions on transit facilities and opening of additional customs points to import bulk cargo from third countries. He also said the meeting was silent on calls to scrap ´quota´ on export.
Bijaya Saraogi, member of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), admitted that the meeting missed some agendas because of the lack of preparation. He also said the issues could be raised in the upcoming meetings.
Source: myrepublica
Business people have welcomed the decisions taken by the Inter-Governmental Committee (IGC) meeting between Nepal and India on Sunday, saying that the decisions are in favor of Nepal.
They, however, have stressed the need to make efforts for implementation of the agreements.
The commerce secretary-level meeting between Nepal and India concluded on Sunday, approving almost all the agendas tabled by Nepal. Talking to Republica, Udayaraj Pandey, executive member of Federation of Nepalese Chamber of Commerce and Industry, said the trade talk has given an opportunity to Nepal to expand its trade.
Pandey, who is also the President of Garment Association of Nepal, further said
the government should utilize the opportunity by making continuous efforts for implementation. He also suggested putting in place a mechanism to make sure that the agreements are implemented.
Pashupati Murarka, vice-president of FNCCI, said the agreement will play a big role in expanding Nepal´s foreign trade. “However, there must be a coordinated effort by Nepali stakeholders for the implementation of the decisions taken by the bilateral trade meeting,” Murarka added.
He, however, added that failure to operationalize Vishakhapatnam port for Nepal´s third country trade will affect import and export business.
“Traders are already complaining of hassles at Kolkata port. That is why the private sector pushed the government to propose India to open new port for Nepal´s foreign trade,” he added.
India had agreed in principle to let Nepal use second port for third country trade during former Prime Minister Madhav Kumar Nepal´s visit to New Delhi. However, no agreement could be reached for operationalizing Vishakhapatnam port because of India´s proposal of introducing double lock system on the containers.
Opening of bulk cargo and additional transit route of Bhairahawa and Jogbani will facilitate in bilateral as well as third country trade, said Abinash Bohra, president of Morang Merchants Association.
India has also agreed to remove non-tariff barrier on Nepali exports. This will help make Nepali products more competitive in the Indian market, according to traders.
Failure to address trade deficit
Birgunj, Dec 25
Private sector representatives have lamented that the major problems of the Nepal-India trade were not addressed as per their expectation during the recently concluded Inter-Governmental Committee (IGC) - a commerce secretary level meeting -- between Nepal and India.
They have said that the meeting failed to take any concrete decision toward reducing Nepal´s ballooning trade deficit with India.
Earlier, Birgunj Chamber of Commerce and Industries (BCCI) had submitted its agenda to the Nepali side to table it in the IGC meeting. One of the main agendas in the list submitted to government was to reduce trade deficit between Nepal and India.
“Unfortunately, the issue didn´t figure in the 14-point agreement that was made public after the IGC meeting,” BCCI president Ashok Kumar Baidya told Republica, adding, “It seems that the important agendas were ignored in the meeting.”
He argued that the Nepali side failed to present its agenda in a proper way. Baidya, however, welcomed decisions on transit facilities and opening of additional customs points to import bulk cargo from third countries. He also said the meeting was silent on calls to scrap ´quota´ on export.
Bijaya Saraogi, member of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), admitted that the meeting missed some agendas because of the lack of preparation. He also said the issues could be raised in the upcoming meetings.
Source: myrepublica
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