Business people welcome decisions of IGC meeting
KATHMANDU, Dec 24: 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.
(Source:REPUBLICA)
