KATHMANDU, Aug 4: International aid and trade will remain key drivers of Nepal's development as the government moves ahead with a clear focus on attaining economic prosperity, Foreign Minister Shisir Khanal said on Tuesday.
Addressing an interaction programme organised by the Economic Diplomacy Division of the Ministry of Foreign Affairs here, Khanal said the government is giving special attention to defining its development priorities amidst the challenges and limitations arising from Nepal's geopolitical position.
He said international cooperation and trade play an important role in achieving economic prosperity.
Khanal underlined the need to align policies and programmes with clearly identified national priorities.
He said in the present global context, political influence is increasingly linked to economic strength, underscoring the need for effective implementation of economic policies and plans.
Nepal receives development assistance from a number of countries and world bodies. India is one of its largest development partners, extending grant assistance and concessional financing for projects in sectors such as connectivity, health, education, agriculture, energy and post-earthquake reconstruction.
Other major development partners include China, the US, the World Bank and the Asian Development Bank.
Noting that although Nepal, as a Least Developed Country (LDC), has been entitled to non-tariff facilities from several nations, Khanal said the available facilities have not been utilised to the expected extent.
Calling for a review, he said the country should identify where opportunities had been missed and take corrective measures.
"We have been passing through a challenging phase for a long time. Now we must move beyond it and identify the appropriate course of action," Khanal said. (PTI)
