ADB to Help Nepal Modernize Trade Facilitation

10 July 2017

The Asian Development Bank (ADB) has approved a $21 million loan to support the Government of Nepal’s efforts to simplify, harmonize, and modernize the country’s trade processes to meet international standards. Under the South Asia Subregional Economic Cooperation (SASEC), the program will help Nepal integrate its trade facilitation and customs reform.

Key outputs include:

  • Improve national policy and legal framework for trade facilitation
  • Improve Customs procedures
  • Strengthen Nepal Department of Customs' operational structure
  • Enhance Nepal Department of Customs' capacity and increase export competitiveness

The project will contribute to Nepal’s national goals of promoting and diversifying exports, and help the country fulfill its commitments to the World Trade Organization’s Trade Facilitation Agreement and related customs standards. 

“It is important for a landlocked country like Nepal to explore better and a more modern trade facilitation as a means to promote exports and, eventually, economic growth and development,” said Ms. Sonoko Sunayama, Senior Economist, ADB. “Hopefully the project can help the Government of Nepal achieve this for its growth and development.”

 

Related Links:

Ms. Chitranganee Wagiswara, high commissioner of Sri Lanka in New Delhi, India, urged Indian companies to take advantage...

Read More


The Asian Development Bank (ADB) submitted the Jogighopa Multi-Modal Logistics Park (MMLP) pre-feasibility study report to the Ministry...

Read More


The Nepal Intermodal Transport Development Board (NITDB) plans to begin construction of a dry port in Chobhar by...

Read More


Member nations of the South Asia Association for Regional Cooperation (SAARC) have agreed on common standards for biscuits,...

Read More


Establishing an additional air route via Nepal will help reduce congestion and ...

Read More


In this commentary, Mr. Bandula Dissanayake, Secretary General, National ...

Read More


The fourth Bangladesh-Nepal Commerce Secretary Meeting on Trade, Transit, and Economic Cooperation was held on 30-31 May 2018...

Read More