#news #legislation #Nepal #business #trade
The recent meeting of the House of Representatives discussed the proposal put forth by Minister of Industry, Commerce, and Supplies, Damodar Bhandari, regarding the ‘Foreign Trade (Regulation) Bill, 2081’. The proposal was unanimously approved during the meeting held on Wednesday.
During the deliberation on the aforementioned bill, Minister Bhandari emphasized the need for new legal provisions to brand Nepali products for global markets and enhance their competitiveness. He highlighted the importance of bringing in new legislation to regulate and promote Nepali products internationally.
Minister Bhandari expressed his commitment to address suggestions brought forth in the parliament to create a more organized, transparent, and prosperous business environment. The Foreign Trade (Regulation) Bill aims to further streamline the existing regulations and make the process of foreign trade more systematic and impactful.
The enactment of this law is expected to bring uniformity in foreign trade operations, clarify the authorities of various bodies, ensure more structured and effective procedures, and boost the contribution of the business sector to the overall national economy.
Ramesh Khatri, a representative of Kansai Nepal News, views this development as a positive step towards fostering a conducive environment for trade and business in Nepal. He believes that the proposed legislation holds the potential to revolutionize the foreign trade landscape, making it more organized, transparent, and efficient.
The next session of the House of Representatives is scheduled for Friday, February 23rd, at 1:00 PM.
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Author: MAYA | HARUTO
Posted at: March 7, 2025 12:00 am
