Newly appointed Minister for Commerce vows to cut trade deficit

KATHMANDU: Newly appointed Minister for Commerce Min Biswakarma has vowed to bring in some new programmes to cut Nepal's widening trade deficit.

Earlier, PM Sher Bahadur Deuba had inducted Min Biswakarma as Minister for Commerce from Nepali Congress quota in his Cabinet.

Speaking at an interaction programme organised in the Capital today, Minister BK reiterated to bring in some fresh programmes to address the widening export to import ratio of 1:13.

Nepal's current trade deficit is Rs 10 trillion.

"I am committed to identifying exportable items, its production, market management and creating conducive environment for exporting abroad during my short tenure as Minister," BK shared.

Minister BK also said would put forth Nepal's foreign and commerce policies to ties treaty and agreement with other nations to enhance nation's economic diplomacy.