Opening the Himalayas: Nepal liberalises trade policy
Article Abstract:
Nepal has announced a new trade policy which encourages more exports and abolishes trade restrictions on imports and exports. The policy is a response to the nation's trade imbalance with India, a deficit amounting to US$318 million. The number of products subject to trade restrictions is now reduced to 44 and only a small 1% duty will be imposed on exports to encourage overseas trade. Employment for the nation's youth is created with the drive for an export-led economy. A problem for the successful implementation of the new trade policy is the banks' fondness for bureaucracy.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Tough ascent
Article Abstract:
There is speculation about the Nepal's economic policies under the new government of the Nepal Communist Party. Nepal, which has been rated by the World bank as one of the 10 poorest countries, saw a 6.9% increase in its GDP in the year ending Jul 15, 1994. Land reform is a top priority with the minority government and it plans to encourage investment in infrastructure, create new jobs and start rural development banks. Nepal is planning to make the rupee fully convertible in the next year or two. Increasing competition from India and Bangladesh is impacting Nepal's exports.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Losing altitude
Article Abstract:
Nepal is experiencing considerable political and economic instability. Adverse weather conditions have had a negative impact on agriculture, and it is estimated that rice production will decline by 4% and wheat production by 2% in 1998. The Nepalese rupee has fallen by 12.2% against the US dollar since the fourth quarter of 1997, and the cost of imports has risen. Traders are expressing great concern about a 10% value-added tax implemented in Nov 1997.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1998
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