7th Export Day: Emphasis laid on development of export oriented economy

BHAKTAPUR: Stakeholders have emphasized the need to develop an export-oriented economy to balance the country's growing trade deficit and sustainable economic development. At a press meet organised on the occasion of the seventh Export Day, experts and stakeholders of the export field expressed their views that the development of an export-oriented economy can be achieved through the joint efforts of the government and the private sector. At the programme jointly organised by Export Council of Nepal, Trade and Export Promotion Centre, and Bhaktapur Chamber of Commerce and Industry on Wednesday, former Commerce Secretary Purushottam Ojha emphasized the importance of marketing along with diversification in the production of goods. He opined that the government should identify other items that have the potential to be exported to increase the export. Trade and Export Promotion Centre Deputy Executive Director Suyash Khanal stated that export trade decreased due to national and international reasons and opined that it can be increased through product diversification. Khanal said that the problems of export growth can be solved when the government and private sector work together. Export Council President Resham Bahadur Pokhrel said the council has been working tirelessly to reduce the growing trade deficit of the country through export promotion by conducting various programmes in collaboration with the government. The production and export of Nepali goods have been directly affected due to various problems in the national and international markets. He urged the government to increase exports in order to replace imports to maintain the growing trade deficit and maintain the country's trade balance. Businesspersons participating in the programme expressed their view that the goal should be to increase the export of all Nepali goods through promotion by increasing the competitiveness of goods produced in Nepal. They demanded increasing public awareness programmes in various aspects including health protection and export promotion in the industrial establishments of entrepreneurs and businesspersons involved in export. The stakeholders further demanded to address the issues like high airfares, lack of skilled manpower, lack of liquidity, high-interest rates and procedural difficulties to get cash incentives, which are currently the problems of export growth. In order to increase exports, the council demanded the government provide cash incentives to produce exportable goods and provide agricultural interest at subsidised rates to the exporters and end the procedural hassles. To make Nepali products competitive with neighbouring countries, various types of discount facilities should be provided for at least 10 years for export-oriented industries, they suggested adding that Nepali embassies and diplomatic missions should play a role in promoting and advertising domestic products in various countries. On the occasion of the 25th annual general meeting (AGM) of the Export Council of Nepal and the 7th Export Day, it was announced to organise a fair and exhibition of Nepali exportable goods in Kathmandu on January 5 and 6. READ ALSO:

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