The Chamber released a three-year strategic plan

According to the Chamber, an export promotion action plan has been announced to reduce the trade deficit in the next 3 years. In agriculture, water resources, tourism and information technology sectors, which have comparative advantages, domestic and foreign investment will be attracted and facilitated from production to marketing.

'Since becoming a member of the World Trade Organization, Nepal has been experiencing a continuous trade deficit. At present, the share of import is 90 percent and the share of export is 10 percent,' said the statement issued by the chamber, 'in order to reduce it, exportable goods will be identified and promoted.' It is mentioned in the action plan of the Chamber that initiatives will be taken for formulation. The chamber has said that it will take initiatives for the practical implementation of the concept of establishing export houses in all seven provinces. "For trade promotion, initiatives will be taken to establish an international quarantine lab," the chamber said, "a policy action plan will be made to encourage remittances in the productive sector." It is mentioned in the release that the promotion program will be conducted. The Chamber emphasizes on stable government and policy stability for sustainable economic development. Chairman of the Chamber Agarwal said that the 16th five-year plan to be implemented from the financial year 081/82, the government's policies and programs, budget and monetary policy will be initiated for effective coordination. "We will take policy initiatives to increase capital expenditure and effective implementation of periodical plans, make a time-bound schedule to complete capital expenditure on time, and work in such a way as to produce results," he said.

The contribution of the wholesale and retail trade sector to the GDP is 14 percent and the chamber said that it will take initiatives to further increase the contribution of the wholesale and retail trade sector to the GDP by facilitating trade for professional and employment enhancement. The statement also mentions that the

infrastructure plan will be developed as a pilot project to attract foreign investment. According to the chamber, initiatives will be taken to bring in domestic and foreign investment in the fields of agriculture, water resources, tourism and information technology, which have comparative advantages. According to the commitments made in the World Trade Organization, BIMSTEC and SAFTA etc., initiatives will be taken to reduce the customs tariff. The Chamber has also said that it will take continuous efforts to abolish the reference value by recognizing the transaction value in the customs.

"Initiatives will be taken to maintain the current customs rates of 30% to 20%, 20% to 15%, 15% to 10% and 10% to 5%," the action plan of the chamber states, "Initiatives will be taken to cancel the 40% customs rate." Initiatives will be taken to expand the scope of competitive tax policy and tax. The chamber says that it will take initiatives for financial facilitation through flexible monetary policy towards financial management. According to the chamber, the loans going to small and medium enterprises will be facilitated.

Chamber President Agarwal said that investment attraction and policy reforms will be initiated for the production, marketing and commercialization of agricultural products in the agricultural sector. "We will facilitate the supply of seeds, fertilizers, etc., which are necessary in agriculture, and we will initiate the farmers' social security program for the mitigation and relief of disaster incidents in the agricultural sector," he said.

Three-year strategic plan

Black market act, 032 and other old and impractical laws are repealed and initiated to create new laws

Country's gross domestic product to reach at least 75 billion to play a coordinating role to achieve an average annual economic growth of 7 percent

• Initiating an action plan to bring per capita income to at least two thousand dollars in the next 3 years
• Taking policy initiatives to solve cooperative problems
• Taking initiatives to formulate a solid export promotion strategic plan to reach an annual export capacity of 10 trillion rupees
• Recognizing transaction value in customs and abolishing reference value
• Initiatives will be taken to increase loans to agriculture, energy and information technology sectors