A new project funded by the European Union to strengthen Nepal’s path towards more inclusive economic growth and greater integration into regional and global value chains was announced recently in Kathmandu. Geneva-based International Trade Centre (ITC) will implement the project focussed on Nepal’s pashmina fine wool and speciality coffee sectors.
Nepal’s ministry of industry, commerce and supplies (MoICS) will partner with ITC in the project.A new project funded by the European Union to strengthen Nepal's path towards more inclusive economic growth and greater integration into regional and global value chains was announced recently in Kathmandu. Geneva-based International Trade Centre (ITC) will implement the project focussed on Nepal's pashmina fine wool and speciality coffee sectors.#
The project will be a contribution towards the country’s efforts to achieve greater sustainable economic growth and development, and its goal of graduating from the least developed country (LDC) category in the near future, ICT said in a press release.
More than 150 stakeholders, partners and beneficiaries from the government and private sector associations attended the event held in Kathmandu.
The project will focus on areas of particular importance to micro, small and medium enterprises like improving the cost and ease of doing business through enhanced trade facilitation measures and streamlining customs procedures and supporting the government and business community to take informed decisions based on trade data.
A main objective of the project will be to increase trade and the participation of Nepali enterprises in regional and global value chains.
Key to achieving this will be to strengthen the capacities of the ministry and the Export Promotion Centre, enabling their staff to better formulate trade policies, negotiate and implement trade agreements.
As part of this, a trade facilitation and export policies toolbox will be developed. The project also emphasises on increasing the capacities throughout Nepal’s coffee and pashmina value chain, with a view to connect coffee smallholders and farmers to market.
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