The government´s review of the country´s trade policy will incorporate emerging priorities and analyze the global market and trade laws to strengthen Nepal´s position in the international market. [break]
WTO, the global trade governing body, has already sent a partial report to the government underscoring the priorities that Nepal has to incorporate in the TPR.
The Ministry of Commerce and Supplies (MoCS) has been collecting suggestions from different quarters for the upcoming TPR which will be finalized by February 2012 after the joint meeting between Nepali officials and a WTO delegation.
A WTO mission is coming to Nepal in September to narrow down the differences between the two sides.
“We have sent the report to different line ministries for their comments so that our upcoming trade priority and WTO´s assessment of Nepal´s trade policies, priorities and the impact of existing laws relating to WTO commitment could be synchronized,” Chandra Kumar Ghimire, a joint secretary at the Ministry of Commerce and Supplies told Republica.
Ghimire said the upcoming TPR would incorporate overall aspects of trade and include priority and emerging sectors as well as trade laws concerning Nepal´s international trade.
He also said upcoming TPR would give importance to the increased role of service sector and emphasize on the ways to boost Nepal´s supply capacity which has been lacking in the existing TPR.
“Service sector that covers more than 50 percent dominates the total global trade. It is high time that we enhance the service sector to catch up with the global phenomenon and increase our supply capacity in international trade,” said Ghimire.
He said the TPR attempts to reduce the gap between Nepal´s commitments to WTO and its actual fulfillment.
Related story
Cooperation for trade
