Equipped with unique tourist destinations, a strong national brand, and favorable trade positions with developed countries, Nepal is a country full of untapped potential. But several obstacles are holding it back from being a modern and globally connected economy. Some of these are unavoidable, such as its remote and landlocked location. But others, including outdated and restrictive trade and investment policies, lack of sufficient infrastructure, and a low capacity for adhering to quality standards for exports, could be resolved with a more modern trade framework.
Standards are a critical element of the trade landscape. Standards are regulations set by either public or private bodies (including firms) to ensure that products are fit for consumption, that they meet specific technical standards, or that they can be used as inputs for specific commercial processes such as manufacturing. Developing countries are often hampered by a lack of access to independent and credible inspection, testing, certification and accreditation services – what can be termed the “standards infrastructure."