At the conference of landlocked nations, Prime Minister Oli emphasized on collective pressure for fair trade and transit arrangements.
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Prime Minister KP Sharma Oli has emphasized that landlocked developing countries should not be left behind in the global trade system.
While co-chairing the Round Table on 'Trade and Commerce Facilitation and Regional Cooperation' under the Third United Nations Conference of Landlocked Developing Countries (LLDC) today, he emphasized on collective pressure for fair trade terms and transit arrangements.
'The action plan of the Sevia commitment that we passed in June this year has also given importance to infrastructure construction, smart trade, investment in corridors, development of transport and logistics industry, digitalization of trade and customs process. A strong commitment is required for its full and effective implementation', Prime Minister Oli said, 'With the sincere implementation of these measures, landlocked countries can use their business potential for inclusive and sustainable development. For this, we need to strengthen cooperation and partnership at the bilateral, regional and multilateral levels.'
He urged us to deepen regional integration and promote meaningful partnerships by promoting trade in information technology, products and services, and emphasized that we should fulfill this commitment by doubling the share of these countries in global trade, expanding service exports, and promoting a more diverse and flexible economy.
Urge to increase South-South cooperation
Prime Minister Oli, while addressing the ministerial meeting on South-South cooperation under the conference, stressed on the mobilization of sustainable resources to achieve measurable results with the exchange of knowledge between these countries to fulfill the immense potential and immediate needs.
'Based on unity, mutual respect and shared ownership, South-South cooperation promotes mutual learning, capacity development and technology transfer in line with the unique needs and aspirations of LLDC, which helps build equitable and inclusive growth,' Prime Minister Oli said, 'We should use South-South and triangular cooperation to promote regional integration by investing in flexible physical and digital infrastructure.'
Prime Minister Oli urged to work collectively to develop trade and 'transit' corridors, modernize infrastructure, harmonize customs procedures to increase cross-border trade and investment, and held the view that digital transformation should be embraced to meaningfully participate in the global digital economy.
