KATHMANDU: Representatives from the World Trade Organization (WTO) Secretariat, Masahiro Hayafuji and Thakur Parajuli, recently met with Minister of Industry, Commerce, and Supply, Damodar Bhandari, to discuss Nepal’s upcoming third trade policy review, scheduled for next year.
During their meeting at Singha Durbar, Hayafuji shared that following the second review of Nepal’s trade policy in 2018, the WTO has been coordinating with various agencies to ensure a thorough and objective review.
This includes collecting preliminary information on Nepal’s trade and business-related policies and laws.
The review process will focus on Nepal’s business policies and laws, as outlined in Schedule 3 of the Marrakesh Agreement, which mandates that each member state’s trade policy be assessed. Nepal completed its first review in 2012 and the second in 2018.
Information will be gathered through a series of meetings, and the WTO Secretariat will prepare two reports: a “Report of the Secretariat” and a “Report of the Government,” which will be submitted to the WTO’s Trade Policy Review Body in 2025.
Minister Bhandari emphasized Nepal’s commitment to enhancing trade and investment through the WTO by adopting supportive policy, legal, and strategic measures.
He highlighted the government’s focus on creating private sector-friendly laws to simplify and clarify the business environment.
Looking ahead, Bhandari expressed confidence that the ministry is well-prepared to tackle the challenges of boosting Nepal’s export trade, especially as the country transitions to developing nation status in 2026, with anticipated support from the WTO.
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