13 September 2024, Kathmandu
A panel of experts gathered at the Nepal Infrastructure Summit to discuss the pressing issue of inadequate cross-border infrastructure hindering trade growth in South Asia.
South Asia’s Trade Growth Hampered
The session, organized by the Ministry of Physical Infrastructure and Transport and the Confederation of Nepalese Industries, focused on regional integration and connectivity.
Dr. Shankar Sharma, a former ambassador and planning commission official, emphasized the need for improved transportation connectivity between South Asian countries, highlighting railways, waterways, integrated checkpoints, and digital connectivity as key areas for development. He also stressed the importance of addressing political challenges, particularly the India-Pakistan tensions, to facilitate regional trade.
Nepal’s Minister for Physical Infrastructure and Transport, Devendra Dahal, outlined the government’s ambitious plans to enhance connectivity through the development of aviation, railways, roads, and waterway infrastructure. He also highlighted the significance of the BBIN Motor Vehicle Agreement and foreign investment in infrastructure projects.
Bo Lingam, CEO of AirAsia Group, announced the airline’s plans to start operations in Nepal, which is expected to boost tourism and cargo services, particularly from Southeast Asia. He emphasized the importance of open skies agreements to increase air connectivity between ASEAN and South Asia.
Other speakers, including representatives from the Nepal Electricity Authority and the Asian Development Bank, discussed ongoing efforts to construct cross-border transmission lines and improve transportation connectivity within the South Asia Subregional Economic Cooperation (SASEC) framework.
The session concluded with a call for increased private-sector investment and financial collaboration to bridge the infrastructure gap and promote regional connectivity for economic growth.
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