26 Years Ago
To boost the nation’s economy, Nepal should join the World Trade Organization (WTO), most economists believe.
WTO accord will offer the Most Favoured Nation (MFN) treatment to its member countries in trade dealings. Experts state that access to global marketing will be developed in the nation after joining WTO. It may help to dispose of special and preferential trade relations with India.
It is believed that due to the preferential treatment, the trade deficit with India has been growing steadily. WTO membership is the only way to decrease the trade deficit with India.
At present, Nepal has no choice then to join forums such as WTO, it is believed.
Better opportunities and options can be achieved and received in global trading through WTO. It may be recalled that Nepalese economists since Panchayat days had been saying that Nepal-India trade relations should be based on MFN treatment.
People’s Review, 11 January 1996
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