First Business News Portal in English from Nepal
KATHMANDU: Entrepreneurs of Biratnagar have suggested that the Nepal Trade Integration Strategy (NTIS) 2016 be amended to reduce the growing trade deficit through market promotion and export growth of domestic goods in the international market.
Morang-based industrialists had organized an interaction program where they suggested the government to revise the export potential goods identified by NTIS 2016.
Suyash Pyakurel, president of the Chamber of Industry, Morang upcoming policies should cover up the shortcomings seen in the strategy plan of 2016. “Despite the demand of Nepali goods in the global market, the export is not satisfactory due to the procedural complexities in exports, rising production costs and logistical costs, transportation problems and lack of diplomatic initiatives,” he said.
Meanwhile, Rameshwar Khanal, former finance secretary presented a working paper on NTIS 2016 and said such ecosystem should be developed which includes all sectors that play an important role in growth of foreign trade. “The government should make such plans and policies that will maintain cooperation between government and the private sector and increase the competitiveness of domestic industries,” he said.
Former president of the organization Mukesh Upadhyay, senior vice president Pradip Muraraka, vice president Nanda Kishore Rathi, Treasurer Bipin Kawara and other working committee members, exporters entrepreneurs, women entrepreneurs as well as young entrepreneurs and students also participated in the program.
The country’s export sector has been lagging due to supply-side constraints. This, in turn, has resulted in country facing huge trade imbalance.
NTIS has identified some products and services with comparative and competitive advantages. NTIS, which was introduced in 2010, had incorporated 12 products and seven services under export priority. However, the list has been changed in NTIS 2016.
The NTIS 2016 has shortened the list of products and services that have niche market advantage. NTIS 2016 has identified five products, namely carpets, leather products, pashmina, footwear and all types of fabrics (textiles, yarns) under priority export items. Similarly, three categories of services — skilled and unskilled labour; information technology and business process outsourcing; and tourism — have been incorporated as priority sectors for enhancing export trade.
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