First Business News Portal in English from Nepal
KATHMANDU: Nepal National Single Window System (NNSW), one of the main provisions for the implementation of Trade Facilitation Agreement (TFA) under the World Trade Organisation (WTO), has come into effect from today.
The government launched this service to facilitate trade today amid a programme organized to mark the 69th International Customs Day.
The government was seeking to implement the NNSW system as an integrated collaboration platform for trade, transport and logistics operations that will optimise the processing of import and export information, reduce time as well as costs, and increase certainty and predictability for the trade community.
For its implementation, an agreement has been reached between the Department of Customs and two departments and an office under the Ministry of Agriculture and Livestock Development on Sunday.
The system will be an important milestone in the implementation of the Word Trade Organisaion’s Trade Facilitation Agreement, which has entered the stage of implementation by digitalisation of the import-export process, the ministry said.
Until now, while importing and exporting any goods, the businessmen/representatives have to be physically present to get the recommendation from the concerned departments and submit the documents prescribed by law along with the application.
After the implementation of this system, importing goods from foreign countries will require less time and cost. And the importers and exporters do not have to be physically present in the concerned department/office for preparing documents for trade.
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