Nepal needs to address inequality: Dr Sharma
"The growth rate of trade has surpassed the growth rate of agriculture as the manufacturing industries are confined to urban areas thereby benefiting the urban populace, we need to reduce this inequality," he said.
Speaking at an interaction on Emerging Opportunities in the New Economic Order jointly organised by BP Koirala Foundation and Nepal Lever Limited here Thursday, he expressed the views that intra-SAARC trade could help the South Asian countries to benefit more from economic liberalisation and globalisation.
"We have to work collectively to reap the benefit brought about by economic liberalisation," he added.
He said that Nepal has accorded top priority, through its ongoing Tenth Five Year Plan, to reduce regional imbalance in development and has focused on the development of the western and far western development regions of the kingdom in order to give human face to the development process.
He also said that as Nepal is not much different from India, it could learn a lot from its southern neighbour. The transition period has become painful to Nepal due to political instability over the past few years.
World Trade Organisation (WTO) membership has both opportunities and challenges. The future of garment export is uncertain after 2005 as quotas are phased out then, but we also expect our trading partners would be more disciplined, he further said.
Indian Ambassador to Nepal Shyam Saran said that economic liberalisation in India was looked upon as a threat in terms of social obligation, employment etc, but the economy has expanded and it has created more jobs as well.
"India’s experience in the post-WTO period is positive and Nepal could learn from the experiences of its southern neighbour as Nepal will also face newer challenges," he said.
India’s growth offers major opportunities for Nepal as it can be leveraged for the growth f Nepal’s economy, he further said.
Speaking on the occasion, MK Sharma, Vice Chairman of Hindustan Lever Limited, said that economic liberalisation has not only enhanced the competitiveness of the industries, but it has also given consumers better choice of products and high quality goods at reasonable prices.
"Liberalisation has created enormous degree of competition, improved the quality of products dramatically and brought the cost down ultimately benefiting the consumers," he said.
Attracting foreign direct investment in various sectors and participation of the private sector in the development of infrastructure, value addition to the domestic industries are some of the benefits that liberalisation has given to India and Nepal can also reap the same benefit from the system, he added.Posted on: 2003-12-13 03:32
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Abin
His general strike is under way His group should follow their banda ...then mine... so you have to wait to announce a shutdown
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