Bi-lateral trade promotion major agenda

Focusing on issues related to the promotion of bi-lateral economic and cultural cooperation, a two-day meeting of Nepal-Pakistan Joint Economic Commission has begun in Islamabad on Monday. Finance Minister Shankar Koirala and his Pakistani counterpart Ishaq Dar have been leading the meeting on behalf of the respective countries at the sixth meeting of the commission. The commission mainly deliberates on eight sectors: Economic cooperation, trade, agriculture and water management, education and culture, communication, science and technology, hydropower generation and tourism. Adddressing the meeting, Minister Koirala expressed confidence that the people of both countries will benefit most if bi-lateral economic and cultural cooperation is expanded. Stating that Pakistan is a potential market for Nepali coffee, tea, black cardamom and ginger, Koirala stressed on expanding bi-lateral cooperation in the sectors of agriculture, tourism, education, health as well as production and trade of leather goods. Hailing the positive impact of bi-lateral agreement in agriculture and tourism sector signed in 2007 and 2009, he also said the exchange of experience between the private sectors of the two neighbors will be instrumental for development of industries and trade in both the nations. Briefing the meeting about the preparation being made to hold the elections of the second Constituent Assembly in Nepal, Koirala said the positive political development in the country has created a favorable situation for better economic growth this year. He also informed that government has set a target to achieve 5.5 percent economic growth this year. On the occasion, Minister Dar underlined the need for utilizing the SAARC to promote regional trade. Stating that both countries have huge trade potential, Dar also said this meeting will be a milestone for bi-lateral trade. The fifth meeting of the commission was held from May 29 to 30 in 2005 in Kathmandu. Though both countries had agreed to hold bi-lateral meeting under the commission every year on rotation, the meeting could not take place as planned due to various reasons.