Make Regional Trade Great Again
Summary
South Asia’s intra-regional trade remains far below its potential because of non-tariff barriers and repeated violations of trade agreements. The piece argues that removing these barriers could sharply raise regional GDP, exports, and incomes, including in Nepal.
Key Points
- South Asia’s intra-regional trade is only about 5% of the region’s total global trade despite its huge population and economic potential.
- The article blames non-tariff barriers such as sensitive lists, quarantine delays, para-tariffs, and border restrictions for suppressing trade.
- It says countries in the region frequently violate WTO, SAFTA and transit-trade commitments, worsening costs for Nepal and other neighbors.
- Removing these barriers could significantly boost regional GDP, exports and real incomes, with Nepal potentially seeing major gains.
