Business

NTIS products’ export likely to improve

NTIS products’ export likely to improve

By Himalayan News Service

Kathmandu, November 23 The performance of products and services included in Nepal Trade Integration Strategy (NTIS) is likely to improve in coming days. This is because top export items like carpets and textiles have been included as priority export products in the revised strategy. However, it has slashed the number of products and services that had been identified as having high export potential. NTIS, 2015 has been modified based on priorities of Trade Policy which was launched few months back. It has slashed list of products and services from 19 to 12. NTIS, 2010 had incorporated 12 products and seven services as having high export potential. NTIS, 2015 will focus on nine products — tea, medicinal plants, cardamom, ginger, carpets, leather products, pashmina, footwear and all fabric (textile, yarn and ropes) — and three services — semi-skilled, skilled professional services, information technology/business process outsourcing and tourism, as per the Ministry of Commerce and Supplies. The export performance of NTIS products and services has been less than satisfactory earlier. However, new products and services have been included in NTIS for inclusive and sustainable development. NTIS, 2015 is a five-year document that will be submitted to the Cabinet for final approval in a few days. Nepal has been receiving aid from Enhanced Integrated Framework — a mechanism to support least developed countries to enhance their trade competitiveness — to implement the NTIS.