The successful implementation of South Asian Free Trade Area (SAFTA) will enhance trade among the South Asian nations and also make big contribution to the economic development of Nepal, experts and industrialists involved in SAFTA negotiations said in Kathmandu Friday.

They believed that SAFTA will ensure expansion of Nepal's trade, currently limited within the country, to other South Asian nations, which will have a positive impact on poverty alleviation endeavors.

The SAFTA has come into effect from Jan. 1, 2006.

They were speaking at an interaction on "Impact of implementation of SAFTA: Nepali perspective" organized jointly by the Ministry of Industry, Commerce and Supplies and Nepal Chamber of Commerce.

On the occasion, Secretary at the Ministry of Industry, Commerce and Supplies Bharat Bahadur Thapa said the interaction was organized with the objective of looking at ways on how the private sector could gain maximum benefit under SAFTA.

Joint Secretary at the Ministry Ngaindra Rasa Upadhyaya said the private sector should enhance its efficiency so as to gain maximum benefit from implementation of SAFTA.

Acting President of the Chamber Jagdish Rasa Khetan and Second Vice President Surendrabir Malakar pointed out the need for collaboration between the Nepali government and the private sector to benefit from SAFTA.

Source: Xinhua