Trade and Business Economics
Trade and business is the major component for economic development. Improvement on import leads smooth operation of an economy. In case of Nepal, the Imports have decreased rapidly in recent years. Imports in Nepal decreased to 26538.000 Million NPR in September from 41369.30 Million NPR in August of 2015. Imports in Nepal averaged 27818.49 Million NPR from 2001 until 2015, reaching an all time high of 83987.30 Million NPR in June of 2015 and a record low of 8000.30 Million NPR in October of 2001. (Source: Nepal Rastra Bank). Although, Nepal conducted trade with 180 countries in the last fiscal year but enjoyed a trade surplus with only 32 of them, (Department of Commerce). Among 180 countries, China is one and the trade with China has been booming in recent years, though the trade balance is largely tilted towards China. According to the statistics maintained by the Trade and Export Promotion Centre (TEPC), the trade between Nepal and china grew more than 17 times since 2006. Therefore, to overcome such critical scenario Nepal China Friendship Forum focused on Economics of trade and aims to contain all the relevant information about Trade and Business of Nepal and neighboring Nation.
How NCFF Conference, Resource person and guest speakers helpful ?
NCFF organizes National and International conference, where information can be tracked from expertise and other relevant areas. From such Conferences ideas are germinated and shared without any barriers. It will include a resource person from specific area and tries to evaluate the opinion shared. It also throws an open discussion blog where information is extracted from Resource Person (Stakeholders, Business houses, Economist, Academicians) and such information is used in the monthly magazines, periodical and Research published by NCFF.
How NCFF motivation to small scale industry helpful ?
NCFF focus small industries which can run in houses, cottage both in towns and villages. They do not require machinery and a large number of workers rather it can start with small investment. The cottage industries of Nepal has been affected to some extend because of export and large industry. In a developing country like Nepal, cottage industries contribute a lot to the county’s economy. Cottage industry can increase Employment opportunities (For Skilled and Unskilled labor), Utilization of local resources, Source of foreign currency, Government revenue Living standard. So NCFF target
- To organize an events for Cottage and Small scale Industries entrepreneur
- To accomplish a research on Small Industries
- To introduce techniques and tools used by Chinese and other developing Nation entrepreneur during the phase of Small industry growth
Tourism is one of the productive business activities directed for the production of the goods and services. It provides goods and services to the customers, employment and income to the locals. From the operation of the tourism, business enterprises and the people generate earnings. Tourism ultimately increases the foreign exchange earnings, generates employment opportunity and increases income. That result income circulation in the economy which encourage other economic activities. It also stimulates for the income and employment in other sectors of the economy. Tourism has various economic, social, cultural and environmental effects. For a country like Nepal, Tourism is the ideal solution for economic growth.
How NCFF helps to boost tourism ?
NCFF will gather members ranging from Tourism board till Business persona of Tourism sector. It will organize a round table consortium or a discussion session on the inflow of tourism. From consortium outcome NCFF will figure out how tourism is thriving in Nepal, its driving forces for community and the innovative ways to attract more foreigners.
How NCFF research helpful for tourism ?
Research on tourism from NCFF will help to build a Realistic/ Fact based policy.
Realistic/ Fact based Policy: NCFF helps to design such a policy that is real and fact based. It aims to help government in creating a policy that focus Nepalese community. For that, NCFF will provide the members (Basically- Academicians, Researcher, and Economist) a facility where they can observe. Observation on the real scenario of Nepal tourism helps members participated in NCFF to find out merits and demerits from tourism on people life. The aim besides allowing an observing facility is to figure out the actual condition of Tourism in Nepal. Thus, keeping such real scenario of tourism, the information from events, and reference from other materials help NCFF to develop a Fact based policy.
Economics of Agriculture
Nepal is an agro-based country. Most of the people in Nepal depend on agriculture which provides daily needs such as crops, vegetables, fruits etc. Most of the cottage industries in Nepal are also based on agriculture because it supplies with raw materials. About 80% of the people’s occupation is agriculture. Trade is also mainly of agricultural products. Agriculture provides raw materials for the industries. With the help of good manure, seeds, equipment and irrigation the growth of crops is increased in large quantity. Agriculture is known as the backbone of economy of Nepal. Due to Nepal’s Dependency on agriculture, NCFF will provide platform for a study of productivity of arable land to Researcher and Academician.
Facility to study Land capacity of Nepal
Total Area of the Nepal is 147181(Sq. Km.) which comprises of Mountain 51817 (Sq. Km), Hill 61345 (Sq. Km) and Terai of 34019 (Sq. Km).Among these land, Agricultural Land Cultivated is 3091Sq.Km while the Barren land or Uncultivated land is 1030(Sq. Km) including Forest 1560 Sq. Km, Grass Land, Pasture (1766 Sq. Km), Water (383 Sq. Km) and Others 2620 (Sq. Km). (Source: Government of Nepal Ministry of Agricultural Development Agro-Business Promotion and Statistics Division Statistics Section). Looking at the land scenario NCFF tries to attract agricultural economist to get involved. NCFF believes if proper research facilities are provided to Academicians (based on Agriculture) they can figure out the actual challenges and opportunities of Nepal’s Land. As well, with consult of other expertise researcher can figure out how land can be used.
Facility to study Labor capacity of Nepal
Lack of forecasting and research can lead ineffective use of labor. In economics there is a principle more the quantity of labor better the output but from a certain point of time if labor forces are increased it declines the output. This is the general theory used from economist perspective but in practical such ideas cannot be implemented by farmers. Therefore, NCFF will organize workshops and trainings for farmers on effective use of labor, Facility where Researcher can figure out use of labor for development.