KATHMANDU, JAN 15 - Experts have pointed out that Nepal, one of the least developed countries (LDCs), needs to focus on revenue compensation, rules of origin, sensitive and negative list of goods and technical assistance while negotiating for the South Asian Free Trade Area (SAFTA) before its implementation.
Speaking at an interaction on ‘SAFTA: What Does It Really Mean?’ orgnised by Nepal Chamber of Commerce (NCC) here today, Ratnakar Adhikari, Executive Director of South Asia Watch on Trade, Economics & Environment (SAWTEE), urged the government to focus on those issues.Lowering tariffs to 0-5 percent by 2016 carries some meaning to Nepal as it may not unilaterally liberalise tariff any further and accession to WTO too may not impose such a requirement, he added.
Dinesh Chandra Pyakurel, Secretary at the Ministry of Industry, Commerce and Supplies (MOICS), said that once SAFTA comes into operation, it would increase the volume of trade with Bangladesh and Pakistan.
Rajesh Kazi Shrestha, President of NCC said that implementation of SAFTA would also benefit the domestic industries as it forces them to enhance their competitive edge. Stating that some of the provisions of SAFTA are confusing, he urged the government to formulate better strategies.
On the occasion, Padma Jyoti, President of SAARC Chamber of Commerce and Purushottam Ojha, Joint Secretary at the MOICS had also expressed their views.Posted on: 2004-01-16 03:11

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