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Lasting Peace for Sustainable Development: SAESM

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Lasting Peace for Sustainable Development: SAESM
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February 2: Regional conflict, widespread inequality and lack of resources have been challenging on the way to attaining sustainable development in the South Asian region.

Experts speaking at the 13th South Asian Economic Students’ Meet (SAESM) here on Monday, January 30 said that governments of each country have to focus on lasting peace and high economic growth for an expected sustainable development.

The speakers at the gathering were of this view regarding the issues during the inaugural session of the conference held on January 30.

The conference organised by the Nepal Economic Association (NEA) was inaugurated by Vice-President Nanda Bahadur Pun. Speaking at the event, he said that the countries should pay attention in balancing permanent peace and high economic growth amid inequality so as to attain sustainable development.

"Though there is an improvement in the economic front of the country, political instability and traditional production system are uncooperative to it," said Pun.  He reminded that IMF has indicated that the government will not be able to increase the growth rate in the current fiscal year due to unsatisfactory reconstruction in the aftermath of the massive earthquake of 2015.

"The world economy is not in a stable condition. The United Kingdom has come out of the European Union due to the economic crisis in Europe, and it is hard to say that America will not face economic crisis in the coming days. The world's eye is set on how the American President Donald Trump deals with this issue," the Vice President said.

According to him, though the economic condition of India seems somewhat stronger, the ban on IC 500 and 1,000 currency notes could shrink the country’s economic growth rate.

Similarly, economist with the World Bank Dr Martin Rama pointed out many economic opportunities in South Asia. He also presented a working paper on the role of water resources in the economic prosperity of South Asia. “A proper management of water resources of Nepal can benefit the whole of South Asia", he said.

Likewise, Governor of Nepal Rastra Bank (NRB) Dr. Chiranjivi Nepal said that inter-country cultural network should be strengthened for resolving common economic problems. He opined that economic development of Nepal is gradually expanding taking benefit from the high economic growth of India and China.

The programme was participated in by 175 representatives from South Asia including students and professors of economics.

The five-day event was organised in collaboration with Tribhuvan University for the second time in Nepal. It was organised for the first time in 2009 in Nepal. A total of 42 students of SAARC nations will present their working papers in the conference. The best working paper will also be awarded.                                                                                                                                                                                                                  

The 12 Th conference of the organisation founded in 2004 was held in Colombo. Nepal had joined the gathering in 2007.

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