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The sixth BIMSTEC Summit organized in Bangkok of Thailand concluded today by issuing the Bangkok Vision 2030 document.

The Summit approved a six-point proposal including the Bangkok Vision which emphasizes on keeping the trade expansion, communication network and human security in the region in the center. The theme of the Summit was - "BIMSTEC: Prosperous, Resilient and Open”.

Prime Minister of Thailand, Paetongtarn Shinawatra, organized a press conference here to inform about the endorsed proposal.

The proposal included the issues-- constituting action-oriented mechanism to make BIMSTEC effective, forming Eminent Persons Group to determine its future, maritime transport agreement, a joint statement incorporating the issue of providing support to earthquake-hit Myanmar and Thailand as well as promoting people-to-people connectivity giving tourism and culture priority.

The Summit adopted the Summit Declaration; the BIMSTEC Bangkok Vision 2030 document, which lays out the road map for the collective prosperity of the region; Signing of the BIMSTEC Maritime Transport Agreement, which provides for – National Treatment and assistance to vessels, crew and cargo; mutual recognition of certificates/ documents; Joint Shipping Coordination Committee; and dispute settlement mechanism; and the Report of the BIMSTEC Eminent Persons Group constituted to make recommendations for future direction for the BIMSTEC.

The Thai Prime Minister said the first official Thailand visit of Prime Minister KP Sharma Oli at the eve of BIMSTEC Summit has added a new dimension to the relations between the two countries.

Heads of government of BIMSTEC member nations, including Prime Minister Oli, addressed the Summit.

US President Donald Trump announced what he said were “kind” reciprocal tariffs against more than 180 countries on Wednesday, along with a baseline tariff against other countries, delivering the most sweeping tariff package the US has implemented in decades.

The Trump administration has imposed a 10 percent tariff on Nepali products. The United States has granted trade preferential treatment to Nepal, but traders have not been able to benefit from it. 

America is a big trade partner of Nepal. Trade Facilitation and Trade Enforcement Act 2015 provides duty and quota free access to 77 Nepali products. Officials say, Nepal government now will have to talk with America to ensure the smooth export of Nepali products in American markets.

Over the past five years the exports of Nepal to the United States have increased at an annualized rate of 4.98 percent,  from $110m in 2018 to $140m in 2023. 

The United States and Nepal have signed a trade and investment framework agreement, providing a forum for bilateral talks to enhance trade and investment, discuss specific trade issues, and promote more comprehensive trade agreements between the two countries. Principal US exports to Nepal include agricultural products, aircraft parts, optic and medical instruments and machinery. US imports from Nepal include carpets, apparel and jewelry.

The following are the reciprocal tariffs Trump announced on Wednesday. Any countries not on the list will have a baseline 10 percent tariff on any products coming into the US, the administration said.

The tariffs charged to the US include currency manipulation and trade barriers, according to information provided by the administration—though the percentages could not be independently verified.

The Trump administration is using tariffs as a tool to dismantle levies imposed by other countries and create “truly free and open global trade,” a director with The Heritage Foundation, a conservative think tank, told CNN. Richard Stern, director of Grover M Hermann Center for the Federal Budget at The Heritage Foundation, said other countries have deployed trade barriers, subsidized their products and committed intellectual property theft.

President Donald Trump’s historic tariff announcement will have a lasting impact on South Asia, where the US is a top export destination for many countries in the region, analysts say.

The region, which includes the world’s most populous country, India, as well as Pakistan, Bangladesh and Sri Lanka, is “dealing with varying levels of economic stress,” he said. “There’s a lot of vulnerability, and the tariffs will hit hard,” said Michael Kugelman, South Asia Institute Director at The Wilson Center, a US-based think tank.

A Nepali parliamentary delegation led by Speaker of the House of Representatives (HoR) Devraj Ghimire has left for Uzbekistan today to attend the 150th Assembly of the Inter-Parliamentary Union (IPU) and the 4th Summit of the Non-Aligned Movement Parliamentary Network.

The delegation includes members of Parliament Shyam Kumar Ghimire, Anjan Shakya, Suryaman Dong Tamang, Sovita Gautam, Secretary General of the Federal Parliament Padma Prasad Pandey and Secretary of the House of Representatives Harkaraj Rai.

The annual assembly of the Organization and the fourth summit of the Non-Aligned Network will be held in Tashkent, the capital of Uzbekistan, from April 5 to 9.

"Speaker Ghimire will address the meeting on "Parliamentary Action for Social Development and Justice."

Similarly, lawmaker Shakya is scheduled to participate in the Forum of Women Parliamentarians and lawmaker Gautam in the Forum of Young Parliamentarians, and lawmaker Shakya is also scheduled to present her candidacy on behalf of the Asia-Pacific region in the Standing Committee on Sustainable Development.

Speaker Ghimire is scheduled to deliver a speech on "Commemorating 70 years of Bandung Spirit: Role of Parliament in Adhering to Bandung Principles" at the 4th Summit of the Parliamentary Network to be held on April 6.

The Federal Parliament Secretariat has said that there will also be 'sideline' meetings with the Speakers of various countries on the occasion.

The government has paved the legal way for the private sector to build and operate industrial zones.

These facilities, operated by the private sector, will enjoy the same benefits as government-run industrial zones, as per the Industrial Zone Declaration and Operation Work Procedure, 2025 approved last week. The work procedure was approved following a minister-level decision.

The new legal arrangement is expected to complement the government’s ‘One Local Unit, One Industrial Zone’ program announced in 2018. Although 120 out of 753 local units had announced plans to build industrial zones under the program, only three–Mellekh of Achham, Anbukhaireni of Tanahun and Madane of Gulmi– have operational industrial zones at present.

Since the government’s vision of building at least one industrial zone in each local unit has failed to materialize due to lack of interest from local governments, the government is now bringing the private sector on board.

According to industry ministry officials, the new work procedure allows private investors to acquire land, and develop, construct, operate and manage industrial zones in coordination with local governments.

Private companies interested to invest in industrial zones must apply to the concerned local governments with documents such as a pre-feasibility study report, land ownership documents, survey report, and a commitment letter to operate the industrial zone for at least 20 years.

If the local government deems the proposal feasible, it will recommend that the ministry declare the area as an industrial zone. The ministry will then submit the proposal to the cabinet for approval under Section 55 of the Industrial Enterprises Act.

The private sector can also build industrial zones through partnerships with local governments. Firms may develop zones by entering into land-leasing agreements with local governments or forming partnerships with local governments. The work procedure also permits local governments to hire private entities to manage industrial zones built by them.

These zones should be spread over at least 25 ropanis of land in mountainous districts, 35 ropanis in hilly districts, and seven bighas in Tarai districts. Sites selected for industrial zones should be at least 500 meters away from human settlements, should have access roads with 10-meter width, and an 11 kVA electricity supply. Only micro, cottage, and small industries are eligible to operate in these zones, with priority given to enterprises run by women, youth (below 30), or foreign returnees.

Prime Minister KP Sharma Oli has said the three pillars of the BIMSTEC Summit - Prosperity, Resilience and Openness - not only align with the Sustainable Development Goals, but also resonate deeply with Nepal's national aspiration of 'Prosperous Nepal, Happy Nepali'.

Addressing the BIMSTEC Summit in Bangkok of Thailand today, Prime Minister Oli stressed that BIMSTEC must not only navigate the changing tides but also seize the opportunity to reinvigorate our regional cooperation.

"I believe that the theme of the Summit –Prosperous, Resilient and Open BIMSTEC, provides us with that compass –a compass that is pro people, pro prosperity and pro welfare," he argued.

The Prime Minister mentioned, "Building an integrated Bay of Bengal region is a must to unlock our potential and capitalize on the complementarities we possess.  Additionally, recognizing that not all economies in our region are equal, we must extend preferential support to Member States with special needs to enable them to share common prosperity."

Saying that climate change has posed an existential threat to entire humanity, he opined that for Nepal, the stakes are even higher. Our high Himalayas are perennial water towers and cooling stations of Asia.

Amlan Mukherjee has been serving as the Managing Director of Unilever Nepal Limited since April 2020, bringing with him over three decades of experience in Unilever’s global operations. His leadership has been instrumental in steering the company through the challenges posed by the Covid-19 pandemic, ensuring both employee welfare and business continuity. Under his guidance, Unilever Nepal achieved a 19 percent increase in profit after tax, reaching Rs 1.834bn, and delivered the highest dividends in the company’s history. Beyond financial achievements, Mukherjee has championed several corporate social responsibility initiatives. Notably, he led Unilever Nepal’s collaboration with the Nepali Army for the ‘Mountain Cleanup Campaign 2023’, aiming to preserve the nation’s Himalayan environment by collecting and recycling waste from major peaks. On 30th March, Ponds Skin Institute unveiled their new tagline, Miracle Happens, which highlighted the efficacy of three essential skincare. In this context, Sabika Shrestha of ApEx interviewed him about the skincare industry, trends, and other issues. Excerpts:

What was the objective behind hosting the event?

As you know that Ponds is one of the most established skincare brand globally and what we try to do is to understand the needs of the consumers because in today’s day, unlike before, the consumer skincare needs are evolving and they are evolving on the basis of environment, temperature, skin types and hence one fits for all time is over. Hence, what we try to do through this event is to understand those skincare needs and then bring in the products which address those needs. We invest a significant amount of money in terms of bringing in the best-in-class machinery and technologies so that the consumers can get the best products.

How has the brand evolved over time?

Twenty years ago we took this revolutionary step of bringing in the modern skincare solutions for consumers. While the skincare regimen—cleansing, toning, and moisturizing—are timeless, we at Ponds build products to address specific concerns like skin type, pollution, and environment. Our formulations continue to evolve based on the needs of our consumers to deliver far greater results.

What sets Ponds apart in the global market?.

With 125+ years of heritage, Ponds operates in 60 countries and has five best in class research centers in five different parts of the world. This gives us the opportunity to understand the consumer needs and adapt accordingly. We can anticipate global trends and introduce products in our local markets. To me that is the biggest advantage between Ponds and the other skin care brands which we find in Nepal and in South Asia.

How is Ponds positioning itself as a market leader in Nepal?

With digital advancement, the world is a very small space. If Nepali consumers are demanding for products that are trending in the rest of the world, then we need to be ready to fulfill that need. And that’s what Unilever stands for and that is what Ponds stands for. There is a consumer need. We get the consumers, and we either bring that product from our existing range, or we do that research and introduce that product. That is our Pond’s place.

Does beauty relate to the overall well-being of an individual?

Absolutely. We at Ponds believe that beauty is holistic, that inner well-being reflects on the skin. Stress, for example, can cause skin pigmentation. So, Ponds blends scientific research with deep consumer insights to nurture both inner and outer beauty.

What are the evolving consumer needs and preferences in Nepal’s skin industry?

Nepal has a high beauty consciousness, with consumers well-informed about global trends. Pollution and climate create unique skin care challenges (e.g., acne, dryness). Ponds addresses these with targeted solutions, ensuring that our Nepali consumers receive the same premium care as global audiences.

What are your thoughts on introducing budget friendly skin care products?

You know, word budget depends on and varies from person to person. Today, our consumers are willing to spend on taking care of their skin. It is unfair to overcharge them, but we ensure quality products. So, it is important to see that there are consumers who need the basic skin care regime, and we have that for you. Then there are consumers who have specific skin care regimes, who have specific needs for their skin care needs, and we have products for them as well. We let our consumers decide by putting out a wide variety of products all across the price line.

How do you encourage men to follow a skincare routine?

For today’s men, taking up the beauty care regime is not a taboo. They are much more open, much more receptive to the fact that they also have skin care needs as much as their women counterparts. They are driving that change. The men’s beauty care industry is very promising. Ponds already also has a specific men’s range, and the market is growing.

So there’s no gender bias when it comes to skin care?

You know, from the company’s standpoint, there is definitely no gender bias but the point is that still today, I would say, it’s changing, but not as fast as we would like to. Men are getting conscious, but at the same time, maybe because of their approach, attitude, they are still not that open as women to get into this skin care regimen lifestyle. But, the way we have picked up the trend, there is lots of social noise, lots of social media interest in terms of skin care, changes from the male also.

Do you have a skincare routine?

Definitely. I lead a company which deals with beauty products. I have to practice what I preach.

The Plant Quarantine and Pest Management Center Quarantine Office Kakarbhitta has shared that agricultural produce worth Rs 17.73 billion has been exported via the Kakarbhitta border point in the eight months of the current fiscal year.

According to the Information Officer of the Office, Chandreshwar Thakur, cardamom, tea, ply and veneer, ginger, broom grass (Amliso) are among the main items exported.

During the eight months, the highest amount of export goods is tea worth Rs 8.20 billion, cardamom worth Rs 5.24 billion, ply and veneer worth Rs 2.73 billion have been exported.

Similarly, according to the office statistics, ginger worth Rs 260 million, broom grass worth Rs 760 million, cabbage worth Rs 80 million, herbs worth Rs 40 million lentils worth Rs 40 million have been exported.

According to Information Officer Thakur, agricultural goods worth Rs 2.44 billion have been imported from the Eastern border during the same period. The main crops are maize, wheat, barley, oats, rye, barley, hemp and potatoes.

According to the data shared by the Quarantine Office, millet worth Rs 131 million, rice Rs 49 million and fresh vegetables worth Rs 288 million have been imported.

Similarly, fresh fruits worth Rs 263 million, garlic worth Rs 644 million and potatoes worth Rs 37 million have been imported.

Nepal’s economy is projected to grow 4.5 percent in FY25, up from 3.9 percent in FY24, despite significant natural disasters in late 2024. Growth is expected to be driven by increased domestic trade, hydropower generation and paddy production, according to the World Bank’s latest Nepal Development Update: Leveraging Resilience and Implementing Reforms for Boosting Economic Growth, released on Thursday.

The report also forecasts that Nepal’s economy will grow at an average annual rate of 5.4 percent in FY26 and FY27, driven largely by the services sector.

“Boosting private sector-led economic growth is critical to creating the jobs that Nepal needs. To achieve this, Nepal can build on its impressive track record of resilient growth backed by implementing key structural reforms,” said David Sislen, World Bank Country Division Director for Maldives, Nepal, and Sri Lanka.

The report highlights downside risks to the economic outlook, including geopolitical and trade-related uncertainty. It also points to the potential further deterioration of asset quality in Nepal’s financial sector, the risk of policy inconsistency arising from frequent bureaucratic changes in the government, and delays in the execution of the capital expenditure budget.

“The Nepal Development Update provides valuable insights on recent economic developments and highlights Nepal’s resilient growth. Boosting growth further to meet the country’s 16th Plan targets requires effective execution of the capital budget and timely completion of ongoing projects,” said the Vice-chairperson of the National Planning Commission, Shiva Raj Adhikari. The Nepal Development Update, produced biannually, offers a comprehensive analysis of key economic developments over the past year, placing them within a long-term global context.