Kathmandu, May 31: Minister for Industry, Commerce and Supplies Ramkrishna Tamrakar today inaugurated a three-day national seminar on the generalised system of preferences and rules of origin.

Some 86 representatives from different governmental bodies and 28 private institutions are taking part in the seminar organised by the Ministry of Industry, Commerce and Supplies in collaboration with UNCTAD.

The seminar aims at familiarising participants with the importance of GSP in order to expand the country’s export trade by taking advantage of the concessions on customs and duties allowed by the developed countries for goods from the developing world.

A set of working papers about the general principles of GSP and the common factors in the GSP system practised by the EC, Japan, the UK, Canada, Switzerland and Norway will be presented during the seminar.

UNCTAD proposed the GSP in 1968 to provide easy market access in the developed countries to the products of developing countries through concessions on customs and duties.

With the adoptation of this system, the competitiveness of Nepalese products has increased and consequently the volume of export trade has risen.

On the occasion, Minister Tamrakar said that His Majesty’s Government is fully confident that the open and liberal trade policy adopted by Nepal would be instrumental in bringing 
about the overall economic development of the country.

He further noted that the private sector should develop its competence level and come forward at a time when the government role in the economic activities of the country is shrinking.

Nepal cannot compete in international trade unless it has knowledge of the GSP system, he said adding, the seminar would be fruitful for exporters as well as for officials associated with foreign trade.

Minister of State for Industry, Commerce and Supplies Narendra Bikram Nemwang observed that the national economy would be boosted through the active participation and contribution of the private sector.

He further said the government is giving priority to continuing training for private entrepreneurs, exporters and government employees concerned on the incentives available to developing countries and the changes taking place in the world scenario.

Secretary at the Ministry of Industry, Commerce and Supplies Mohan Dev Pant said maximum benefit could be derived only through adequate knowledge about the rules of origin and procedural matters.

Representative from UNCTAD M. Igami said that such a seminar would be of help for bringing about sustainable economic development in the developing countries.

Vice-chairman of FNCCI Diwakar Golchha also spoke of the importance of the GSP.