‘Collective effort must to boost trade’

Kathmandu, January 29

Minister for Commerce Romi Gauchan Thakali has emphasised on the need for collaborative effort among South Asian nations to address the trade barriers that exist in the region.

Addressing the Partnership Summit 2017 in India, which is being organised by the Ministry of Commerce of India and Confederation of Indian Industry in Visakhapatnam, Minister Thakali said that a collective effort is inevitable to tackle barriers like poor governance, complex regulatory systems and poor physical connectivity resulting from the weak cross-border infrastructure links that has inhibited economic growth in the region.

“Weak institutional coordination, complex-non tariff barriers, poor trade facilitation measures along with regulatory and procedural limitations have been creating different hurdles in promoting trade and investment in region. Thus, all member states should come forward with positive attitude for removing barriers seen in trade, transit and investment among the members in the region to achieve the goal of economic prosperity,” added Thakali.

Minister Thakali also emphasised the importance of good neighbourhood policy that ultimately helps member nations to bring synergy in the development process in the region.