NAWALPARASI: Nepal Chamber of Commerce (NCC) Chairman Rajendra Malla remarked that despite having the potential to export worth Rs 1 trillion, the country has not been able to export them due to a lack of branding.
Addressing the general convention of the Nawalparasi Chapter of the Chamber of Commerce on Saturday, the NCC chairman reiterated branding the local products and exploring ways for promotion and export.
He pointed out the need for the identification of exportable goods and international branding to reduce the high trade deficit.
Malla said that despite the huge potential of exportable goods in the country, they could not be identified.
He claimed that there is an annual export potential of around 1 trillion rupees in the country.
“There is a trade deficit in the country every year around the budget. Exportable items in the country have not been identified. Branding of the items being exported has not been done. As products like tea and coffee cannot have their own logo, they have not been able to get the expected benefits in exports,” the NCC Chairman said.
In order to facilitate the export of Nepali goods, he suggested that international-level quarantine measures should be established at the main customs points.
Malla said that the government should focus on increasing the scope rather than the rate of tax and recalled that only about 60 percent of the revenue was collected in the current financial year.
According to Malla, the scope of tax should be widened as there is a serious impact on the revenue due to the ban on the import of some items.
He urged all parties to stand together in the economic policy of the country.
Malla further said that the budget should be made production-oriented rather than distribution-oriented.
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