Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government is preparing to issue Certificate of Origin to products refined in Nepal using third country raw materials to curb the rising unauthorized export of such products.
The government’s preparation to this effect comes following recent accusation from India that Nepal has been importing unrefined palm oil and then exporting the products without refining them to India.
Implementation of the new system requires importers to bring food products from overseas only upon the recommendation from the authorised government body.
Along with palm oil, Nepali importers are also accused of importing food products like pepper, beetle nuts and dates from third countries and exporting them to India compelling the southern neighbor export of these food products from Nepal.
Otherwise, the government had been increasing customs tariff and impose quantity restriction on export of such goods to discourage unauthorized export from Nepal.
India has been accusing Nepal of exporting products imported from countries like Malaysia, Singapore and Indonesia as its own product. India made such accusation during the recent secretary-level meeting between the two countries to discuss trade-related issues.
Issuance of the Certificate of Origin will discourage unauthorized export from Nepal and promote healthy trade, as per officials of the Ministry of Industry, Commerce and Supplies.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
