Nepal stresses FTA deal, Asia highway
Gorkhpatra, Nepal
Nepal stresses FTA deal, Asia highway
10 August 2006
KATHMANDU, Aug. 9: Minister for Finance Dr. Ram Sharan Mahat led the Nepalese delegation to the Ninth BIMSTEC Ministerial Meeting held in New Delhi today.
The delegation comprised the Acting Foreign Secretary Bhagirath Basnet as well as other senior officials of Ministries of Foreign Affairs, Finance and Industry, Commerce and Supply, and the Charge d’Affairs of the Embassy of Nepal in New Delhi.
As the leader of the Nepalese delegation, Dr. Mahat delivered a statement during the Ministerial meeting.
While addressing the Ministerial meeting, Dr. Mahat stated that he was representing a nation which had witnessed historic political developments recently forced by popular uprising on an unprecedented scale.
He expressed that the people revolted against autocracy and forcefully asserted for the cause of peace and democracy and also stated that Nepal was fully prepared to fulfill people’s aspirations and dreams, and was striding towards restoring sustainable peace, institutionalising inclusive democracy and leading momentum to the peace of development. He also expressed that the peaceful resolution to the decade-long insurgency in the country has been the primary goal of the nation.
With a view to realising the group’s objective of augmenting trade in the region, he highlighted the need for the early finalisation of the ongoing negotiation of BIMSTEC Free Trade Area on trade in goods, rules of origin and customs procedure, negative list, and dispute settlement mechanism.
He also stated that in view of the economic needs of each other, huge resources at their command and strong complementarities in various fields, BIMSTEC members needed to attach priority to pursuing trade facilitation measures removing tariff and non tariff barries for accelerated growth in the region.
Noting that lack of a good regional transportation network has been one of the main hindrances to the promotion of economic activities, he laid emphasis on the development of transportation and communication sector to give impetus to growth through greater flow of goods and services and the people across the region.
In this context, he stated that priority should be given to lubricate the trade flows by upgrading the Asian Highway in the BIMSTEC countries. He also highlighted the significance of Multi-modal transport facilities, improvement in efficiency, ADB assistance for BIMSTEC Transport Infrastructure and Logistics Study to attain the objectives of this economic community.
Regarding the cooperation on energy sector, he said, "Effective utilisation of the energy resources available in the region will stimulate higher rate of growth and will create multiplier effects in all the member countries. As BIMSTEC is expected to conclude an Energy Charter Treaty sometime in future, it needs to lay stress on unhindered implementation of regional grid connectivity and on feasible hydroelectric projects with due consideration to the benefits of downstream riparian countries.
"The Treaty should also incorporate a Gas Pipe Networking to which all BIMSTEC countries should have access,"Minister for Finance Dr. Mahat said and expressed Nepal’s full support to the proposal of locating the BIMSTEC Energy Centre in India.
