“The government is committed to improve Nepal´s trade competitiveness by providing more facilities to the private sector. [break]
Reducing the time and costs in international trade, in particular, is critical for the Nepali private sector to compete internationally and access global markets,” said Chief Secretary Leela Mani Paudyal said, speaking at an interaction on ´Public Private Partnership Toward Improving Trade Facilitation in Nepal´ here on Friday.
The program was organized jointly by the Ministry of Finance, Department of Customs (DoC) and International Finance Corporation (IFC). On the occasion, Poudel hailed the contribution of IFC - the member of the World Bank Group - in improving trade competitiveness of Nepal.
Trade facilitation involves reforms in border operations, including the reliability and efficiency of transportation infrastructure and customs as well as border management regulations and procedures.
“To support trade competitiveness, the DoC has been implementing a four-year Customs Reform and Modernization Strategy and Action Plan since July. It comprises of components like trade facilitation, high revenue yield, organizational development, and e-Customs,” Surya Acharya, director general of DoC, said.
Speaking on the occasion, Valentino S Bagatsing, IFC Resident Representative in Nepal, said the government´s commitment to improve trade competitiveness is encouraging. “Reforms in trade environment will provide the much needed boost as Nepali businesses position their products in accessing global markets,” said Bagatsing.
IFC´s South Asia Regional Trade Integration program aims to assist the government in focusing its reform efforts to create an environment for improving trade facilitation and logistics.
IFC works with both private sector and government agencies in identifying areas where reform efforts can help maximize improvements for the private sector to improve cross-border trade and investments.
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