IDEAS home Printed from https://ideas.repec.org/a/nrb/journl/v17y2005p86-112.html
   My bibliography  Save this article

Nepal's Trade Sector: Review, Repercussions and Recommendations

Author

Listed:
  • Bhubanesh Pant Ph. D.

    (Nepal Rastra Bank)

Abstract

That the trade sector plays a highly instrumental role in attaining high and sustainable economic growth is indisputable. However, Nepal’s policy regime has not been very effective in improving trade competitiveness. Although policy measures have been announced both to identify new exportable products and encourage diversification of export markets, these have hardly been executed. Weak infrastructure, poor human resources, absence of quality standardization of exports, dearth of a strong legal framework and frequent policy reversals, among others, have restricted the country in improving its international competitiveness. Still, owing to the emerging trend of a competitive and market-oriented global economy, these issues need to be properly addressed. With reference to regional and multilateral agreement, the country should undertake a two-pronged strategy according priority to multilateral trade negotiations under the World Trade Organization as well as to strive for effective and meaningful regional trading arrangements such as the South Asian Free Trade Area (SAFTA) and the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation Free Trade Area (BIMST-EC FTA) which it is currently pursuing. Other measures suggested by this paper for boosting trade competitiveness include, among others, technological upgrading, investment in infrastructure, appropriate legal framework compatible with regional and multilateral agreements, new trade policy, setting up of export processing zones and credible policy.

Suggested Citation

  • Bhubanesh Pant Ph. D., 2005. "Nepal's Trade Sector: Review, Repercussions and Recommendations," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 17, pages 86-112, April.
  • Handle: RePEc:nrb:journl:v:17:y:2005:p:86-112
    as

    Download full text from publisher

    File URL: http://www.nrb.org.np/ecorev/pdffiles/vol17_art5.pdf
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Nimesh Salike & Benli Lu, 2015. "An Examination of Nepal’s Export Choice based on Revealed Comparative Advantage," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 27(1), pages 75-89, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nrb:journl:v:17:y:2005:p:86-112. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dr. Bishnu Prasad Gautam). General contact details of provider: http://edirc.repec.org/data/nrbgvnp.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.