January 5: The Nepal Export Council has said that the total export of Nepal has decreased by 34.6 percent in the five months of the current fiscal year. Organising a press conference in Bhaktapur on Wednesday, Chairman of the council Resham Bahadur Pokharel said that Nepal's export is now limited to Rs 67.3 billion.

“In the year 2020/21, the total foreign trade of Nepal increased by 26.1 percent compared to the previous year and reached Rs 2120 billion. With the increase in foreign trade, Nepal's total exports also increased by 41.7 percent to 230 billion and imports increased by 24.7 percent to 1920 billion. But in the first five months of 2022/23, the total export of Nepal decreased by 34.6 percent to 67.3 billion. The problems surface because our country's economy is dependent on import rather than export,” said Pokharel

Demanding that the government produce export-quality goods and provide preferential interest rates to the exporters, he said that the country's economy is not strong due to the import-oriented economy. Pokharel demanded that the state should arrange various exemptions for export-oriented industries for 10 years and emphasized that the procedural hassles to be faced while receiving cash incentives should be ended.

He said that the government should establish a globally recognized lab for the export of Nepali products to different countries.

The government should promote its products through diplomatic missions to compete with the products of the neighobouring countries, said Pokharel.

Pokharel pointed out that the export of Nepali products has not increased due to high freight charges, lack of skilled manpower, lack of liquidity, high production costs, transportation costs, and lack of market diversification.

In order to make the import-oriented market export-oriented, he said that the council will organize a large exhibition in Thamel, Kathmandu on January 5 and 6, with 20 stalls of various goods produced in Nepal on the occasion of Export Day.

The council’s 25th Annual General Meeting, Silver Jubilee and the 7th Export Day will be celebrated by the council with the slogan 'Expansion of Exports, Improvement of Economy'.

During the press conference, the council's former chairman Naresh Lal Shrestha said that if export-oriented policies are not adopted to strengthen the country's economy, it will not take long for the country to reach the situation of Sri Lanka. He pointed out that the government at all three levels should give priority to export along with diversification of local products.