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Category Archives: Trade

Chief Secretary wants Araniko Highway cleared soon

Chief Secretary Lilamani Paudyal today directed Home Ministry to restart transportation along the Araniko Highway – that has been closed since due to landslide in Sindhupalchowk. In the meeting of Central Monitoring and Evaluation Committee today, he directed them to

Per day trade deficit Rs 1.69 billion in an average

The country is witnessing trade deficit of Rs 1.69 billion per day in an average. Nepal recorded Rs 618.47 billion trade deficit in the last fiscal year due to increased imports but slow exports growth, according to the central bank.

Nepal fails to take advantage of bilateral trade pact with India

Nepal’s failure in taking advantage from the bilateral trade treaty with India fueled the trade deficit, according to a report. The average growth rate of Nepal’s exports to India since 2009 remained a meager six per cent annually, said the

Consumer right activists want downward review of import tariff on rice

Consumer right activists asked the government to check the price of rice before the festivals. Submitting a memorandum to commerce minister Sunil Bahadur Thapa here today, National Consumer Forum said that the price of rice has increased by five per

Government to sign trade agreement with Bhutan

Nepal is planning to sign a trade treaty with Bhutan soon. Addressing the annual general meeting of Lalitpur Chamber of Commerce here today, minister for commerce and supplies Sunil Bahadur Thapa informed that the government is planning to sign a

Improve IPR, labour laws to attract Indian investments: Indian Envoy

Indian Ambassador to Nepal Ranjit Rae today asked Nepal to improve its legal provisions on intellectual property rights (IPR) and labour laws to attract more investments from India. “Indian investors have been complaining that the weak legal provisions regarding intellectual

Market monitoring for festive season on cards

The government is gearing up to intensify market monitoring as the fesive season is round the corner. Department of Commerce and Supply Management, Department of Food Technology and Quality Control and Nepal Bureau of Standard and Metrology jointly are preparing

China supports Rs 15.5 million to Prime Minister Relief Fund

China today announced a support of Rs 15.5 million to the Prime Minister’s Disaster Relief Fund. Chinese Ambassador to Nepal Wu Chuntai handed over the assistance – on behalf of Chinese autonomous region of Tibet – today to foreign minister

Government bans export of raw gemstones

The government banned the export of raw gemstones from Nepal. The traders now will be allowed to export precious and semi-precious stones with value addition only. The move is expected to encourage the local gemstone traders to enhance their capacity

Tatopani-based traders start construction of alternative route

As the highway to trade with northern neighbour has been blocked since two weeks by a landslide, the traders have started construction of a two-km track – as an alternative – linking Kalleri to the Araniko Highway to reopen the

Government likely to launch SEZ Operation Manual

The government is planning to launch Special Economic Zone (SEZ) Operation Manual tomorrow. The manual aimed at paving the way for the operation of Bhairahawa SEZ has been long due to kickstart the industrialisation in the country. The constractors have

Nepal receives Rs 1.5 billion remittance inflow daily

The country is receiving Rs 1.5 billion remittance on an average daily. “Nepal has received Rs 397.8 billion in nine months of th current fiscal year 2013-14,” according to macroeconomic report for nine months published today by the central bank.

Workers’ protest hits tea industry in Jhapa

Jhapa tea industry is hit hard by tea workers’ indefinite protest as .almost all the factories have been shut down since last three weeks. The tea workers have been asking to provide minimum wage fixed by the government. The government

Garment exports surge by 52.8 per cent in first eight months

Readymade garments export from Nepal increased by 52.8 per cent to Rs 3.615 billion ($37.633 million) during the first eight months of the current financial year 2013-14, compared to the exports of Rs 2.366 billion during the same period of

UNCTAD places trade at the heart of sustainable development agenda beyond 2015

The sixth session of the Trade and Development Commission included an informal meeting in the afternoon of its first day to consider ‘The role of International Trade in the Post 2015 Development Agenda.’ With the form of the sustainable development

EIF seeks active participation of non-state actors in NTIS implementation

The state and private sector should involve in effective participation of non-state actors in implementation of Nepal Trade Integration Strategy (NTIS), which is going to be reviewed by mid-2014. Inaugurating a two-day interaction ‘Non-State Actors in the EIF: Towards a

India agrees to extend customs opening hours at Raxaul

India has agreed to open Raxaul customs for 12 hours and recruit an assistant commissioner at Panitanki customs office to facilitate movement of cargo to and fro Nepal. Currently, shipments are cleared through customs only on five days of the

Government authorises Investment Board to hold talks with investors

The government has authorised Investment Board of Nepal to hold negotiation with investors for the development of transmission lines for hydropower projects above 500MW capacity. The meting chaired by Prime Minister and chairman of the board, here today, also mandated