Features

ITC@50 testimonials: Nepal - Landlocked but released by new trade opportunities

2 July 2014
ITC News
ITC has played a pivotal role in ensuring that Nepal participates more fully in global trade, writes Vijoy Dugar

Nepal is land-locked and wedged between two giant neighbours, China to the north, and India to the south, east and west. Historically Nepal has been isolated from the global economy and, until just a few decades ago, its external trade was limited to its two neighbours

Since then Nepal has undergone drastic changes, particularly following the restoration of democracy in 1990, which catapulted the country towards an export-oriented and market-dominated economy.

The International Trade Centre (ITC) has played a pivotal role in supporting Nepal’s efforts to participate more fully in the world economy. By promoting trade sustainability and realizing development goals through exports, Nepal is now steadily and surely nearing its objective of eradicating poverty.

ITC's support to Nepal, often with its partners in the Enhanced Integrated Framework, has been instrumental in boosting tourism and export development, and in providing necessary trade intelligence. The support has helped strengthen backward and forward trade linkages, notably in the tea, coffee, garments, and tourism sectors. More recently we saw the launch of the Pashmina Enhancement and Trade Support (PETS) project, which will further help us increase the export capacities of Nepal’s pashmina producers. Moreover, the project will contribute to the wider economic and social development of Nepal.

Trade is the engine of economic growth – and even more so in the dynamics of the globalized 21st century. Trade is key to expanding people’s horizons, performance and choices. Integrating and mainstreaming trade into national development planning and strategy has a positive impact on overall human development. Trade contributes to the development objective of a country, including poverty reduction and socio-economic development. ITC’s assistance has helped Nepal to mainstream trade and development, and to create synergy in its overall development management. It has been a good partnership, and we are looking forward to continued cooperation with ITC in our efforts to promote trade and eradicate poverty.