Trade Policy Nepal
TRADE POLICY, 2009
TRADE POLICY, 2009
Publisher Government of Nepal
Ministry of Commerce and Supplies
Singh Durbar, Kathmandu, Nepal
: Ministry of Commerce and Supplies Singh Durbar, Kathmandu, Nepal First Publication : July, 2010 Numbers Published : 500 Publisher
FOREWORD
Trade is regarded as an ‘engine of economic growth’ as it has the pote ntial to spur sustainable, long-term economic development. Considering this fact, many developing countries are adopt ing the liberal economic and trade policies under the auspices of multilateral, regional and bilateral free trade agreements. Nepal has also pursued the open economic policies since mid 1980s which was accelerated in 1990s with the enactment of various pie ces of legislations including Privatization Act, Industrial Enterprise Act, Foreign Investment and Technology Transfer Act, Industrial Policy and Trade Policy, among others. It has acceded to the World Trade Organization (WTO) and also became the member of two regional trading blocs in 2004. Substantial works were taken up in the area of trade facilitation as the development of Inland Clearances Depots (ICDs), simplification of documents and procedures including customs reform and modernization and streamlining of transit movement of Nepalese trade. Nepal possesses vast potentials of promoting goods and services trade. Given the country’s diversified climate, topography and abundant natural resources there are ample opportunities to harness benefits by utilizing the available human capital and natural resources that could positively impact on living standards of the people. Trade development, thus, would be an instrument to create opportunities for marginalized and vulnerable groups of the society to participate and benefit from trade. Realizing the importance of trade and its multiplier effects in the economic development process, the Government of Nepal, introduced ‘Trade Policy’ in 1992 with a view to optimize the benefits from trade
TRADE POLICY, 2009
Publisher Government of Nepal
Ministry of Commerce and Supplies
Singh Durbar, Kathmandu, Nepal
: Ministry of Commerce and Supplies Singh Durbar, Kathmandu, Nepal First Publication : July, 2010 Numbers Published : 500 Publisher
FOREWORD
Trade is regarded as an ‘engine of economic growth’ as it has the pote ntial to spur sustainable, long-term economic development. Considering this fact, many developing countries are adopt ing the liberal economic and trade policies under the auspices of multilateral, regional and bilateral free trade agreements. Nepal has also pursued the open economic policies since mid 1980s which was accelerated in 1990s with the enactment of various pie ces of legislations including Privatization Act, Industrial Enterprise Act, Foreign Investment and Technology Transfer Act, Industrial Policy and Trade Policy, among others. It has acceded to the World Trade Organization (WTO) and also became the member of two regional trading blocs in 2004. Substantial works were taken up in the area of trade facilitation as the development of Inland Clearances Depots (ICDs), simplification of documents and procedures including customs reform and modernization and streamlining of transit movement of Nepalese trade. Nepal possesses vast potentials of promoting goods and services trade. Given the country’s diversified climate, topography and abundant natural resources there are ample opportunities to harness benefits by utilizing the available human capital and natural resources that could positively impact on living standards of the people. Trade development, thus, would be an instrument to create opportunities for marginalized and vulnerable groups of the society to participate and benefit from trade. Realizing the importance of trade and its multiplier effects in the economic development process, the Government of Nepal, introduced ‘Trade Policy’ in 1992 with a view to optimize the benefits from trade