Introduction:
The Trade and Export Promotion Centre (TEPC) is a government agency in Nepal established to promote, facilitate, and develop the country’s exports. It acts as a bridge between Nepali exporters and international markets, helping businesses expand their reach and competitiveness globally.
Thank you for reading this post, don't forget to subscribe!The Trade and Export Promotion Centre (TEPC) is a national trade promotion organization of Nepal, established in 2006 (2063 B.S.) under the Ministry of Industry, Commerce, and Supplies (MoICS).
- It was formed by merging the Trade Promotion Centre and the Export Promotion Board with the objective of promoting and developing Nepal’s foreign trade.
TEPC acts as the apex body for trade promotion and export development in Nepal. It plays a vital role in expanding Nepal’s international trade by supporting exporters, identifying potential export markets, and enhancing the competitiveness of Nepalese products in the global market.
- It also works as a bridge between the government and the business community, providing trade-related information, conducting market research, and facilitating trade negotiations.
Objectives of TEPC:
- To promote and diversify Nepal’s exports by identifying and developing new products and markets.
- To enhance the competitiveness of Nepalese goods and services in international markets.
- To provide export-related information and advisory services to exporters and traders.
- To coordinate trade promotion activities among public and private institutions.
- To support trade negotiations and help formulate export-friendly trade policies.
- To develop human resources and institutional capacity in trade promotion.
Functions of TEPC:
Provide Advice to the Government
TEPC advises the government on trade policies, export strategies, and measures to enhance Nepal’s participation in international markets. This helps formulate effective policies that support exporters and the national economy.
Strengthen National Economy
By promoting exports and facilitating international trade, TEPC contributes to economic growth, employment generation, and national revenue, strengthening Nepal’s overall economy.
Support for Poverty Alleviation
Encouraging export-oriented industries creates jobs and income opportunities, especially for rural and marginalized communities, thereby contributing to poverty reduction.
Cooperate to Diversify Trade
TEPC helps businesses diversify products and markets, reducing dependence on a few commodities or countries and expanding Nepal’s global trade presence.
Attract Investment
TEPC promotes Nepal as a favorable destination for foreign and domestic investment, particularly in export-oriented sectors, by providing information and facilitating investor access.
Acts as Information Pool
The centre serves as a repository of trade-related data, providing exporters with market trends, trade statistics, international regulations, and other essential information.
Identify the Problems in Foreign Trade
TEPC identifies challenges faced by exporters, such as market barriers, tariff restrictions, quality issues, and procedural difficulties, and recommends solutions to overcome them.
Support to the Exporters
TEPC provides practical assistance to exporters, including help with documentation, compliance with international standards, training programs, and participation in trade fairs, ensuring they remain competitive in global markets.
Importance of TEPC:
- Helps increase foreign exchange earnings through export growth.
- Provides updated trade information to exporters and policymakers.
- Enhances the global competitiveness of Nepalese products.
- Supports the development of export-oriented industries.
- Strengthens Nepal’s international trade relations and market access.
- Encourages diversification of exports to reduce dependency on a few commodities.