Kathmandu – President Bidhya Devi Bhandari has stressed on the need for a self-reliant economy for sustainable development considering the adverse impacts of natural disasters like earthquakes, floods and landslides on businesses and thereby on the country’s economy as a whole.
Addressing the inaugural session of Nepal International Trade Fair (NITF)-2016 here at Bhrikutimandap Exhibition Hall today, she also said the new constitution has ended political transition and that it has ensured the crucial role of the private sector in the country’s development. “It is imperative for the government, private sector, cooperatives, communities and other stakeholders to join hands to create a conducive environment for investment, in which local industries can flourish.”
President Bhandari also highlighted the need for economic activities to be targeted at development of equitable society through economic activities that promote local investment while being mindful of opportunities and challenges brought on by advancements seen in fields of information technology and globalisation.
Meanwhile, President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Pashupati Murarka said the attraction towards NITF, which is being organised for the fifth time, has been increasing each passing year, but lamented that the country lacks the necessary infrastructure to organise such expositions at a massive scale.
“We had to turn down many interested exhibitors this year due to space constraint,” he said, adding the private sector has been showing interest to develop infrastructure to organise large trade fairs in the country.
He further highlighted the importance of trade fairs like NITF-2016 in promoting exports by bringing together buyers, sellers and distributors, among other stakeholders under the same roof.
Wu Tongdiao, deputy director general at Trade Development Bureau of Ministry of Commerce of China and Rajeev Singh, deputy director general at Indian Chamber of Commerce expressed hope that the fair would play an important role in attracting foreign investment to Nepal and sharing of experiences and expertise among the exhibitors.
There are altogether 350 stalls showcasing local as well as foreign products from Nepal, India, China, Pakistan and Bangladesh.
There are 70 stalls showcasing products from India, 90 from China, 20 from Pakistan, five from Bangladesh, and the remaining stalls have Nepali products on display.
There are separate stalls showcasing handicraft, information and technology products, agricultural tools, energy, education and surgical steel, among others. Similarly, the exhibitors have also put on display readymade garments, leather and leather products, high-tech equipment, furniture and home décor.
The fair is being organised by FNCCI in cooperation with the Ministry of Commerce and co-organised by the Federation of Handicraft Associations of Nepal and Nepal Herbs and Herbal Products Association. It is scheduled to conclude on March 21.
The organisers are expecting a footfall of over 125,000 visitors — importers and exporters, wholesalers, retailers, manufacturers, foreign diplomats, foreign trade delegations, agents/distributors, government officials, media persons, students and general public — during the five-day event, as per FNCCI website.
The event is supported by Indian Chamber of Commerce (ICC), China Exhibition and Forum Pvt Ltd (CEFPL), and Arghakhanchi Cement, while the fair is being managed by Rise Event. ICC and CEFPL are coordinating with the exhibitors from India and China, respectively, during the event.
FNCCI says it is trying to develop the trade fair as an important forum for exhibitors to expand and strengthen their business ties. – Himalayan Times via EIN News