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Nepal new law to be brought for export promotion

KATHMANDU:- Nepal Government has proposed a new law with an aim to promote export of goods produced at home by the use of domestic labour and skills, and raw materials.
The bill on exports promotion and trade deficit reduction is registered at the Federal Parliament Secretariat and given to the lawmakers for the study.
As mentioned in the bill, priority is given for the exports of goods and services that are produced with the use of domestic human resources, and raw materials and would be given special facility and subsidy for their promotion.
Likewise, the bill has stated the provision of purchase, processing or packaging on behalf of the government for establishment of export entity.
The government would issue certificate of the origin of the goods to be exported. The bill has also proposed the establishment of export promotion fund.
However, the bill has proposed to impose a ban on import and export of some goods. The endangered species, herbs and natural resources and the goods and heritages of historical, archeological and cultural importance would not be allowed for the exports.

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