The potential repercussions of the ongoing and anticipated challenges pose a significant risk to the Nepali tea industry, endangering the jobs of over 75,000 Nepalis employed directly or indirectly within the sector.
Sustainable trade practices encompass various strategies and plans to promote economic growth while preserving environmental integrity and social equity. These practices are particularly relevant for LDCs, as they address the unique challenges these countries face.
The trade deficit of the country already reached NPR 366.88 billion (USD 2.76 billion) during the initial three months of the FY 2023/24, spanning from mid-July to mid-October.
In FY 2022/23, Nepal’s most-imported product was high-speed diesel, totaling NPR 153.769 billion, which is remarkably close to its total exports of NPR 157.14 billion for the entire year.
NTIS 2023 has included some of the implementation and assessment measures required for the success of the strategy. The strategy proposes additional roles and responsibilities for the multilateral trade and trade facilitation division including facilitation of good and services trade, gathering and analysis of trade market intelligence data, etc.
