Asian Development Outlook (ADO) 2021 Supplement: Recovery Continues
South Asia’s economic growth is projected at 8.6% for fiscal year
(FY) 2021, while the forecast for FY2022 stands at 7.0%. In Bangladesh,
exports and imports grew due to rising global demand in clothes. In India,
gross domestic product (GDP) growth remained strong, driven by growth
in private consumption and investments. Maldives saw an increase of 193.3%
in tourist arrivals from January to October in 2021 compared with
2020. In Nepal, GDP grew by 2.5% in FY2021 due to a rebound in
services. In Sri Lanka, GDP grew by 12.3% in the second quarter of
2021, with growth prospects for 2022 downgraded due to macroeconomic
challenges. Previously, in the Asian
Outlook Update, the GDP of Bhutan and Myanmar were forecast to
contract in FY2021.
Author: Asian Development Bank
Tags: South Asia, Export, ADB, Import
Trade and Transport Facilitation Monitoring Mechanism in Nepal
This report synthesizes the business process analysis conducted on import of wool through Kolkata-Birgunj-Kathmandu, export of wool carpet from Kathmandu-Birgunj-Kolkata, and import of fabrics from Bangladesh to Nepal through Dhaka-Banglabandha-Fulbari-Panitanki-Kakarbhitta-Kathmandu. It also measures the performance of trade corridors and border crossings in Nepal, to quantify current trade and transport facilitation and provide recommendations. Findings of the study reveal bottlenecks to trade, including procedures needed to complete import/export, compounded by requirements for transiting trade through India, which further prolongs the trade process and increases the cost. The report includes specific short-term and long-term policies to improve Nepal’s trade and transport facilitation.
Author: Asian Development Bank and United Nations Economic and Social Commission for Asia and the Pacific
Tags: Trade Facilitation, Nepal, Import, Export, ADB RCI
Customs Reform and Modernization Strategies and Action Plan 2017-2021
The Customs Reform and Modernization Strategies and Action Plan 2017-2021 of the Nepal Department of Customs (DOC) aims to serve as a blueprint of Customs reform for the next four years, with a vision to support Nepal's initiatives toward economic and social prosperity. With Nepal seeing continuous increase of cross-border trade over the last decades, this Plan is being implemented to align Nepal toward international standards. It outlines the DOC's vision, mission, guiding principles, as well as strategies, such as expediting legitimate trade facilitation and enhancing Customs automation and data management, to create a conducive environment for seamless movement of cargo traffic to and from the borders, and help in lowering transaction costs through greater transport facilitation.
Author: Nepal Department of Customs
Tags: Customs, Customs Valuation, Nepal, Trade Facilitation, Import, Export, Trade, Revised Kyoto Convention
Time Release Study: Mechi and Biratnagar Customs 2017
Time Release Study is a special tool developed by the World Customs Organization to measure effectiveness of operational procedures carried out by Customs, other regulatory agencies and private sector stakeholders in the standard processing of imports, exports, cross border and transit movements. A key activity identified in Nepal's Customs Reform and Modernization Strategies and Action Plan 2013-2017, it identifies the average time taken for clearance of consignments from entry to exit in the Customs area, enabling possible corrective measures to
improve performance. This Study was undertaken to support trade facilitation measures being introduced by the Nepal Department of Customs to reduce bottlenecks to faster Customs clearance, and promote seamless movement of cargo traffic to and from the Country.
Author: Nepal Department of Customs TRS Working Group
Tags: Trade Facilitation, Time Release Study, Import, Export, Trade, Nepal, WCO
Changing Patterns of Trade and Global Value Chains in Postcrisis Asia
This Asian Development Bank brief examines how patterns of trade and global value chains (GVCs) in developing Asia have changed since the global financial crisis. The paper reports that export slowdown in the region was caused by a combination of weak import demand for Asian goods in advanced economy markets, structural transformation and reduced import demand in the People’s Republic of China, and possible impact of increasing non-tariff measures. According to this paper, it further states that much of the weak import demand is likely
to be temporary — developing Asia gained a 1.5% increase in exports in 2016, after a 0.8% decline in 2015. Among South Asian economies, India and Sri Lanka are expected to have better export volume growth in 2016.
Author: Ganeshan Wignaraja, Juzhong Zhuang, Mahinthan J. Mariasingham, and Madeline Dumaua-Cabauatan
Tags: Global Value Chains, Import, Export, India, Sri Lanka, Non-Tariff Measures, Trade Facilitation
Implementing the Trade Facilitation Agreement: From Vision to Reality
Low income to upper-middle income countries stand to gain a 14.6% to 16.5% reduction in trade costs upon implementation of the World Trade Organization's (WTO) Trade Facilitation Agreement (TFA). This publication looks at progression of the TFA – from conclusion of the talks at the 2013 Bali Ministerial Conference to preparations for the Agreement to take effect, as the valedictory moment of the TFA's entry into force nears. It highlights milestones, discusses the state of the ratification process, reviews implementation schedules, and examines work still to be done.
Author: Nora Neufeld
Tags: Trade Facilitation, WTO, Least Developed Countries, Import, Export
Nepal Investment Guide 2016
Nepal Investment Guide 2016 was published to provide information about investment opportunities in Nepal and the process of doing business. It identifies potential sectors for investment; relevant government agencies for foreign businesses; existing laws on labor, taxation, and imports and exports; special economic zones; and comparative benefits to investors.
Author: Nepal Office of the Investment Board
Tags: Nepal, Import, Export, Investment
Deepening Economic Cooperation between India and Sri Lanka
This book analyzes the performance and impact of the India-Sri Lanka free trade agreement over the past decade and suggests the way forward. India became an important source of imports for Sri Lanka immediately after the implementation of the free trade agreement.
Author: Asian Development Bank
Tags: Regional Cooperation, Trade Policy, India, Sri Lanka, Trade, Economic Cooperation, India-Sri Lanka Free Trade Agreement, Free Trade Agreements, Services, Trade Facilitation, Exports, Import