IGC's failure to address trade deficit irks pvt sector

BIRGUNJ, Dec 26: 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: RPUBLICA)