Kathmandu— Foreign Minister Shisir Khanal addressed a program organized by the Economic Diplomacy Division of the Foreign Ministry, emphasizing the importance of international aid and trade in achieving economic prosperity. He highlighted the need to clarify priorities and maximize benefits from non-tariff facilities granted to Least Developed Countries like Nepal.

Economic Priorities and Challenges

Khanal stressed that despite being a Least Developed Country, Nepal has not fully utilized its non-tariff facilities. He called for a review to identify missed opportunities and suggested focusing resources on specific sectors rather than spreading them thinly across multiple areas due to resource constraints.

Global Context and Policy Formulation

The minister noted that in the current global context, political power is intertwined with economic power. He emphasized the need for formulating policies and plans accordingly and implementing them effectively to achieve expected results.

Former foreign secretary Gyanchandra Acharya and former ambassador Deepak Dhital presented working papers on trade-related issues during the program.

(With inputs from Rising Nepal)

Originally published on abcnews.com.np.