{"id":21446,"date":"2017-11-21T18:20:47","date_gmt":"2017-11-21T12:35:47","guid":{"rendered":"https:\/\/techlekh.com\/?p=21446"},"modified":"2017-11-21T21:53:30","modified_gmt":"2017-11-21T16:08:30","slug":"urgency-development-e-commerce-nepal","status":"publish","type":"post","link":"https:\/\/techlekh.com.\/urgency-development-e-commerce-nepal\/","title":{"rendered":"Urgency in Development of E-Commerce in Nepal"},"content":{"rendered":"<p>During the 11th ministerial conference scheduled for December 11th-14th which is being held in Buenos Aires, Argentina, member states of the World Trade Organization (WTO) will come together to conclude negotiations on multilateral rules of e-commerce and bind the e-commerce sector as a whole with various vigilant rules. <strong>However, countries like Nepal, who fall under the least developed countries (LDCs) category, have said that they require relaxation in rules for a few more years to advance their e-commerce sector.<\/strong><\/p>\n<p>Despite these pleas, regulations on e-commerce will be the prime agenda of the ministerial conference.<\/p>\n<p>According to a new study of the International Trade Centre (ITC), the share of e-commerce is worth about 12 percent ($25 trillion) of the total global trade industry. Despite this however, e-commerce is a new phenomenon in most LDCs like Nepal.<\/p>\n<p>The government has just recently framed guidelines to promote e-commerce in Nepal, but these guidelines are yet to be endorsed. The Ministry of Commerce (MoC) has also voiced its readiness to move towards e-commerce. Nepal is lagging behind significantly in e-commerce as it has yet to create a flourishing environment for the industry.<\/p>\n<blockquote><p>\u201cWe need support in infrastructure development to boost e-commerce,\u201d said Toya Narayan Gyawali, joint secretary of the MoC. &#8220;Nepal and other LDCs share a common view that the developed countries need to assist us in creating an enabling environment before multilateral regulations on e-commerce can be adopted by us&#8221;, he added.<\/p><\/blockquote>\n<p>Nepal has, so far, introduced the <strong>Digital Signature Act<\/strong> and <strong>Electronic Transaction Act<\/strong> which are both critical legal provisions for e-commerce; however, lack of a payment gateway has been proving to be an obstacle that is preventing the promotion of e-commerce in the country.<\/p>\n<p>\u201c<em>Through e-commerce platforms small and medium enterprises as well as micro-entrepreneurs get the opportunity to be connected directly to the buyer and sell their products and services at competitive rates, thus removing the middleman from the equation<\/em>,\u201d said Ratnakar Adhikari, executive director of the Enhanced Integrated Framework \u2014 aid for trade mechanism for LDCs under WTO.<\/p>\n<p>Speaking at the session titled \u201cAssessing E-trade Readiness in South Asia\u201d during the ongoing 10th South Asia Economic Summit, Mr. Adhikari emphasized that e-commerce could be the trigger which improves on the export sector for Nepal, a landlocked country where transit transport cost is relatively high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the 11th ministerial conference scheduled for December 11th-14th which is being held in Buenos Aires, Argentina, member states of the World Trade Organization (WTO) will come together to conclude negotiations on multilateral rules of e-commerce and bind the e-commerce sector as a whole with various vigilant rules. However, countries like Nepal, who fall under&hellip;<\/p>\n","protected":false},"author":1037,"featured_media":21481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[306,275],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Urgency in Development of E-Commerce in Nepal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/techlekh.com.\/urgency-development-e-commerce-nepal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Urgency in Development of E-Commerce in Nepal\" \/>\n<meta property=\"og:description\" content=\"During the 11th ministerial conference scheduled for December 11th-14th which is being held in Buenos Aires, Argentina, member states of the World Trade Organization (WTO) will come together to conclude negotiations on multilateral rules of e-commerce and bind the e-commerce sector as a whole with various vigilant rules. However, countries like Nepal, who fall under&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/techlekh.com.\/urgency-development-e-commerce-nepal\/\" \/>\n<meta property=\"og:site_name\" content=\"TechLekh\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/techlekh\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-21T12:35:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-11-21T16:08:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/techlekh.com.\/wp-content\/uploads\/2017\/11\/ecommerce-regulations.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"402\" \/>\n\t<meta property=\"og:image:height\" content=\"299\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ashmita Thapa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@techlekh\" \/>\n<meta name=\"twitter:site\" 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