Nepal’s dry port pact stuck in limbo for five years
Summary
Nepal's Intergovernmental Agreement on Dry Ports, vital for reducing trade costs and transit times, remains unratified after five years due to political changes. If approved, Nepal's dry ports could gain international recognition, enhancing direct trade routes and infrastructure.
Key Points
- Nepal approved the Intergovernmental Agreement on Dry Ports five years ago, but parliamentary ratification was delayed due to government changes.
- The agreement aims to reduce trade costs and transit time by putting Nepal’s dry ports on the international shipping map.
- If ratified, Nepal’s dry ports would gain international recognition and allow direct imports without clearing cargo at Indian ports.
- The agreement aligns with regional transport networks and could prompt infrastructure investment and improved trade connectivity.
