KATHAMDNU, July 22: Trade experts have suggested that the government make review trade policy frequently so that the country can cope with the emerging challenges in international trade.
They also stressed the need to lay special focus on the production of goods with huge export prospects and generating more employment opportunities.
The experts shared their inputs at the Trade Advisory Committee (TAC) meeting held on Sunday at the Ministry of Commerce and Supplies (MoCS) and chaired by commerce secretary Lal Mani Joshi.[break]
The TAC, which has been suggesting the government on trade issues, includes former commerce secretaries and trade experts among others.
“Experts have suggested us to formulate trade strategy that makes us capable enough to compete with other developing countries that are enjoying similar trade facilities from our trade partners,” Naindra Prasad Upadhyaya, joint secretary at the MoCS, told Republica.
The experts also suggested that the government make trade policy more dynamic and relevant by making necessary changes on it annually.
In the meeting, Upadhaya made presentation on hosts of issues and challenges facing the country´s bilateral trade especially with India, US, Bangladesh and Bhutan.
According to Toya Narayan Gyawali, who also made a presentation on multi-lateral trade issues and Nepal Trade Integration Strategy (NTIS), experts also emphasized on proper coordination among line ministries and agencies to ensure effective implementation of NTIS programs. “Experts have suggested us to be more specific on some products,” he added.
The government has listed 19 products -- 12 goods and seven services -- under the NTIS to boost exports by enhancing supply capacity.
The meeting was attended by former commerce secretaries Purushottam Ojha, Bharat Bahadur Thapa, Bidhya Nath Nepal, Mohan Dev Pant, and trade experts, including Posh Raj Pandey, among others.
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