Kathmandu, Dec. 14: Nepal is a staunch
supporter of rule-based, transparent, inclusive and non-discriminatory
multilateral trading system (MTS) as enshrined in the objectives and principles
of the Marrakesh Agreement establishing the World Trade Organisation (WTO), Minister
for Commerce Min Bahadur Bishwakarma said while addressing a plenary session of
the 11th Ministerial Conference of the WTO at Buenos Aires,
Argentina.
Acknowledging the role of trade in poverty reduction, job creation and achieving sustained
growth and economic diversification, Bishwakarma underlined the
need for establishing a balanced, transparent and inclusive world trade order
for which the existing gaps inherent in the physical, digital and regulatory
regimes must be fulfilled, Embassy of Nepal in Geneva said in a press statement
issued on Thursday.
He warned that the
exports from the Least Developed Countries (LDCs) have now fallen below one
percent level against the Istanbul Programme of Action for LDCs target of
raising the export trade to 2 percent of global total.
“Minister Bishwakarma
emphasised the need for thefaithful
implementation of past decisions, including those of Hong Kong, Bali and
Nairobi Ministerial Conferences, specifically related to duty free quota free
market access, preferential rules of origin, LDC Services waiver, TRIPS waiver
and Trade Facilitation Agreement, among others,” reads the statement.
He
underscored the need of effective implementation of the LDC services waiver
scheme by addressing the supply side constrains and establishing a
comprehensive, structured and permanent support system with constructive engagement of development partners.
Director
General of the WTO Roberto Azevedo said that the Multilateral Trading System
could play a role to help maximise the opportunities presented by technology
and to mitigate any adverse effects.
Speaking at a discussion on ‘Rapid e-trade readiness
assessment: A tool to help LDCs drive economic growth’, Commerce Secretary
Chandra Kumar Ghimire said that without addressing the physical and digital
gap, rule-making in e-commerce would not bring benefit to the people of weaker
economies and LDCs.
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