KATHMANDU, NOV 12 - Nepal must focus on policy, institutional and technological strengthening if it is to take benefits of the global trading regime, said Deputy Governor of Nepal Rastra Bank (NRB), Ram Babu Pant on Monday.
“To meet the challenges of the financial sector after Nepal’s accession to the World Trade Organisation (WTO), we should expedite internal financial sector reforms and strengthen the institutional set up,” he said while inaugurating a three-day seminar on “WTO and its Impact on Financial Sector” on Monday.
Pant further stated that the government should develop compatible environment and fulfil the commitments that it made while joining the WTO.
“Accelerating the liberalisation drive, Nepal will definitely gain from the multilateral trading regime. However, for the maximum benefits, we need to reform policies, strengthen institutional and monitoring system,” he said.
Pant also stressed on the need to maintain financial stability for the country to withstand the global competition.
The seminar was attended by the representatives of central banks from Bhutan, Indonesia, Malaysia, Pakistan, Papua New Guinea, Sri Lanka, Philippines, China, Thailand and Vietnam including Nepal.Posted on: 2003-11-11 09:06

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