२५ श्रावण २०७९, बुधबार
     Wed Aug 10 2022
  English Edition

Inclusiveness must for globalization and free trade: PM Prachanda


 March 25,Kathmandu: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said inclusiveness that lies at the core of Asian culture must prevail while we continue to embark upon the path of globalization and free trade. “To materialize the Asian model of globalization, we must build a cooperation model, which will enable free flow of ideas, unimpeded links of trade and an enduring instance of win-win situation,” he said.

In his statement at the Annual Boao Forum 2017 on the theme “Globalization and Free Trade: The Asian Perspectives” in the city of Boao in Hainan province of China earlier today, Prime Minister Prachanda said success and sustainability of globalization must rest on inclusiveness and we must ensure the equality of opportunities as well as ability to reap benefits of globalization. “We should strive for a level playing field –that is even and fair.”

In past few decades, globalization and international trade has brought fundamental transformations in the living standards of the people–of developed as well as developing world, lifting millions out of poverty. “However, it has not been an unalloyed feat.”
However, Prime Minister Prachanda said, in sharing of the fruits of globalization, there has been a visible asymmetry. This very asymmetry has led to apprehensions in various parts of the world –developed as well as developing. It has created an atmosphere of uncertainty and cynicism. He also stressed that we have to make sure that globalization triumphs cynicisms as well as complacence. Globalization –which is more inclusive and reinvigorated and which does not create a dichotomy of winners and losers rather a win-win situation for all.
In the process of globalization, Asia has made its contribution as well as gained the fruits, Prime Minister Prachanda said, while adding that however there are still many countries in Asia for whom globalization has not bestowed with benefits.
There are still some barriers that hinder the free flow of goods and services from the countries, which are at lower rung of development.
In the 21st century, the center of gravity of global economy is shifting towards Asia and it is emerging as the engine of global growth and a hub of trade and innovation. “The 21st century is rightly said to be the Asian Century, a century of shared benefit and shared destiny.”
But for countries like Nepal, which is least developed and landlocked, enhanced market access through duty free quota free provisions, streamlined and simplified rules and procedures, trade capacity building as well as trade facilitating measures including smooth transit arrangements would be essential for them to benefit from globalization. The Prime Minister also said that Nepal expects globalization to contribute to economic transformation which is critical to sustain political transformation.

Noting that Nepal has entered the phase of economic transformation crossing many political milestones, he invited the Asian business community to invest in various profitable sectors including hydropower, infrastructure development and tourism in Nepal. “Our growing domestic market and our location among the largest economies of Asia bear an immense prospect to establish Nepal as a trade hub; a vital link in global value chain”, he said.
We can realize this potential of Nepal as well our continent by making globalization work for all, by ensuring an inclusive globalization for all and free and fair trade and by building on the opportunities offered by globalization and free trade for the common prosperity of Asia and the world.
Prime Minister Prachanda said to create a wealthier world, we must strive for inclusion not isolation, partnership not protectionism, bridges not barriers and freedom while trading not fears. He also expressed the belief
that we have enough foresight, big-heartedness and courage to tread upon this path- a path of Asian prosperity and a path of shared prosperity.

In his statement, the Prime Minister also lauded the Annual Conference of Boao Forum, which he said provides an important platform for sharing of perspectives and nobel ideas for prosperity of Asia and prosperity of humanity. RSS

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