Talking to The Kathmandu Post, Suraj Vaidya, Third Vice-President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that Nepal has more to loose than to gain after becoming the WTO-member.

"Nepal acquired the membership in a hurry and without any effective home-work. This, in fact, will place the country at wrong end of global trade, loosing its domestic market to foreign companies and unable to penetrate the international market by itself," he said.

However, Rajendra Kumar Khetan of Confederation of Nepalese Industries (CNI), said that the WTO is certain to provide opportunities to Nepal, but it is not easy to cash them into gain.

"Nepal can gain more in the post-WTO because there will be easy market access and predictable market environment. However, the task of converting opportunities into gain is not easy, and full of challenge," said Khetan.

With the accession into the WTO, Khetan said, now both the government and the private sector should identify products and areas of comparative advantages. "It is high time for the promotion of goods with comparative advantage to develop competitive edge against other countries,"

said he.

However, Vaidya, believes that it is impossible for Nepal to take advantages from the WTO-membership.

"How can you stand in the competition against developed countries that are freely flowing funds to subsidize their products," he questioned.

Vaidya also said that future days would be tough to Nepal’s private sector, as they will have to face a serious competition from foreign companies.

"Instead of joining the WTO in hurry, it would have been better if the government had spent more time for capacity enhancement to upgrade competitiveness," he said. "As the country has gone into the global trade regime with less home-work, it may be very hard to Nepali industrial sector to sustain the business."

Rajesh Kazi Shrestha, President of Nepal Chamber of Commerce (NCC), told The Kathmandu Post that by acquiring the WTO-membership, the country would stand between the piles of opportunities and challenges.

"Nepal will have broader access in the global market by becoming the WTO-member. This is very aspect of the WTO membership," said he.

"However, to take the profits in the post-WTO regime, the country should tactfully deal challenges that are sure to come. Otherwise, the country's industries will be in loosing, " said Shrestha.