Kathmandu, Jan 12: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said the climate change and sustainability of trade are common global agenda, so they warrant collective action and address.
Inaugurating the 3rd annual conference on ‘Climate Change and Sustainability of Trade in South Asia’ organized jointly by the World Trade Organization and the Kathmandu University in the federal capital on Saturday, DPM Paudel reminded that Nepal is on the forefront of climate change vulnerability, resulting into adverse impacts on socio-economy and infrastructures.
Decentralization of production centres and diversification of supply chain could help reduce risk in trade infrastructures, according to him.
The DPM hoped the conference would be fruitful to whet the pressing issues of climate change in south Asia and build common perspectives among policy makers, researchers and private sector representatives so that they would take proper strategies for future. Efforts made by Nepal despite its negligible role in climate change need to be made visible. The climate actions like mitigation and adaptation should be prioritized, he suggested.
Similarly, the Finance Minister pointed out the need for developing climate resilient infrastructures so that supply chain will not be disrupted.
On the occasion, Registrar at the Kathmandu University, Dr Achyut Wagle, said the initiatives for sustainable economic development should be friendly to private sector. Just and balanced efforts in south Asia can promote trade, he said, adding that continuous actions are required to reduce impact of climate change.
In view of Joint Secretary at Ministry of Industry, Commerce and Supply, Devraj Joshi, Nepal could forward sustainable trade by addressing the problems facing trade and climate change. Study and research in this sector would enrich policy and action plans, he believed.
Representatives from nine countries including Nepal, India, Bangladesh, China, Turkey, and Indonesia attended the event.
