Nepal

“Trade Policy Reviews” analyse the trade policies and practices of each member of the WTO. The reviews consist of three parts: an independent report by the WTO Secretariat a report by the government and the concluding remarks by the Chair of the WTO’s Trade Policy Review Body. The opening section - “key trade facts” - provides a visual overview of the WTO member’s major exports/imports main export destinations origins for its imports and other key data. This edition looks into the trade practices of Nepal.

Nepal started to liberalize its trade and investment regime unilaterally in 1992 and became the first least developed country (LDC) to join the WTO through the full accession process in April 2004. Since then economic performance has not resulted in the strong development Nepal needs. Key factors impeding higher rates of GDP growth include political instability (due to the transition process embarked upon after the internal conflict of 1996-2006) and supply-side constraints notably energy shortages poor infrastructure and labour strikes. Recognizing the effective role of trade to achieve sustainable and inclusive economic growth and to establish the conditions to reduce poverty and improve the living standard of its people Nepal is taking further steps to create a more friendly business environment and help its exporters to become more competitive.