Trade

The trade industry is essential for various reasons. It facilitates the exchange of goods and services, promoting economic development and international cooperation. Trade stimulates economic growth by allowing countries to specialize in producing what they do best and import what they lack. This specialization enhances efficiency and productivity. Additionally, the trade industry fosters competition, leading to improved quality and innovation in products and services. It creates job opportunities, reduces poverty, and increases access to a diverse range of goods for consumers. Overall, a robust trade industry is crucial for global interconnectedness, economic prosperity, and the well-being of societies worldwide.

Nepal is a member state of World Trade Union and Nepal has incorporate core principles of international trade law including Most-Favored-Nation Treatment (MFN), National Treatment (NT), tariff binding, and the general prohibition of quantitative restrictions. However there are few regulatory compliances which challenges the principle.

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