Nepal trade policy discussed at WTO

KATHAMNDU, March 14: Commerce secretary Lal Mani Joshi on Wednesday began detailed discussions on the country´s trade policy at the headquarters of the World Trade Organization (WTO) in Geneva.

“In Nepal´s first trade policy review meeting after joining WTO, secretary Joshi said Nepal has pursued structural reforms in all the sectors of economy and that the country has made considerable process in economic liberalization,” Shankar D Bairagi, Nepal´s permanent representative in Geneva told Republica over phone. 

The review meeting kicked off on Tuesday. Nepal had joined WTO in 2004.

According to Bairagi, Joshi also answered to queries raised by representatives of Nepal´s major trading partners. “He will respond to the remaining queries on Thursday. Representatives of US, China and India, among others, are raising questions about Nepal´s investment environment and infrastructure development,” added Bairagi.

Bairagi further said major trading and development partners appreciated Nepal´s progress towards economic liberalization and strong commitment in compliance to the WTO norm.

According to a press release issued by Nepal´s permanent mission in Geneva, secretary Joshi told the meeting that Nepal had high-level Investment Board aiming to create investment friendly environment for both domestic and foreign investors. 

“The Nepali delegation also pointed out number of challenges and constraints in Nepal´s efforts to promote international trade,” the release added.

Bairagi said Christine Hochstatter, alternate permanent representative of Germany, as the discussant, commented on reports of the Government of Nepal as well as of the WTO Secretariat and suggested measures for further reform of Nepal´s trade sector.

Source: Republica