Nepal'S Foreign Trade Policies And Regulations

Nepal is still implementing the trade policy promulgated in 1992. Its main contents are as follows:

B, through diversification of trade, create new export products, making export trade competitive.

C, by expanding trade, we gradually reduce the trade deficit.

We will expand our employability through cooperation in trade and industry.

A free and flexible trade policy helps to promote foreign exchange earnings, improve balance of payments, and meet domestic demand.

B, through effective and rational use of economic resources, improve the quality and output of products, on the one hand, for domestic consumption, and on the other hand for export earning foreign exchange.

Emphasis should be placed on the development of remote areas and diversification of products.

C, the process of liberalization will encourage industry and trade to promote exports, while increasing domestic output to meet domestic demand.

The focus is on modern management and technology, in developing markets and attracting foreign investment, with the purpose of supporting and developing new products while improving the quantity and quality of traditional products.

D and state trading companies will gradually be privatized to develop highly successful private enterprises.

Moreover, a series of reforms should be carried out step by step to make the management system simple, pparent and flexible. For example, in May 1, 2001, the Nissan and NVB merged to form the nnda.

In addition, in order to promote the development of foreign trade, the existing trade agreements and agreements with countries and international organizations will continue to be effective. If necessary, new contents will be added, and the development of information network and monitoring system should be focused on and how to improve the quality of operation.

B, efforts should be made to increase the types and services of export products so as to increase foreign exchange earnings.

C, improve the output and quality of traditional products and new products to promote exports, and focus on developing products with good efficiency.

D, strive to develop new export products and increase their output, create more foreign exchange earnings and employment opportunities.

E, promote the development of service trade to increase foreign exchange earnings.

F, on the favorable basis, encourage the export of hydropower.

G, in order to effectively utilize human resources, organize and promote the export of technical personnel in the service sector.

Allow private enterprises to operate Limited export commodities, and gradually eliminate the limited export commodities through proper tax mechanism.

B, in order to promote exports, we should gradually improve the existing pport network and infrastructure.

Management procedures should be pparent, smooth and effective.

C, in order to promote exports, we will vigorously develop container services, and the existing bonded warehousing system will further expand and improve.

D, implement an effective export tax rebate plan for the export products produced by imported raw materials and intermediate products.

The import tax on raw materials should be abolished and the bonded warehouse system should be used to store raw materials.

E and export products are exempt from all taxes except service charges, except for restricted raw material exports.

F, in order to promote exports, an export promotion zone will be established, and enterprises in the region will be exempt from imports of raw materials and their own products.

Enterprises outside the region export more than 90% of their products and enjoy the same treatment of enterprises in the region.

G, in the field of trade and services, in order to further achieve the full convertibility of the Nepal rupee, exporters must sell the foreign exchange earned by the exporters to commercial banks at a market rate and a specified proportion, and the rest of the foreign exchange is sold to the Central Bank of Nepal at the government set rate.

In addition to the prescribed categories, the export enterprises and import agency enterprises import raw materials without restriction or license.

However, imported raw materials will be provided by commercial banks at the market exchange rate, allowing importers to open foreign exchange accounts at banks and retain a certain proportion of foreign exchange earnings for trade promotion activities.

H, when the rupee is completely convertible, the export valuation system will be abolished step by step.

I, in order to improve the standards and quality of export products, quality inspection and corresponding information are provided for export products each time.

J, provide the convenient conditions for the reputable carriers on the basis of priority.

K, the income from export will be exempted from income tax, and the income from export to India by letter of credit or voucher will also be exempted from income tax.

L, focus on developing and ensuring quality standards and packaging technology for export products.

M and Nepal institutions abroad should actively participate in export promotion activities and establish trade promotion groups on a feasible basis.

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