The government has been jointly urged by 11 business groups that it should instantaneously take steps to render the stipulation of Certificate of Origin (CoO) certification as, non-obligatory.
These organizations did mention that, as per the stipulation of the World Trade Organization (WTO), the Generalised System of Preferences (GSP) document, functions like the CoO and the latter is just not required.
GSP is a feature of the trade facilitation theory of WTO, mainly intended towards assisting in enhancement of exports from the least developed countries (LDCs), so as to aid them to compete in the global market.
CoO certification is not required by Nepal while exporting from 25 European countries, Canada, Australia, Japan, New Zealand, US or Russia, as for these trades GSP document serves the purpose.
According to the terms of the CoO, exporters for every export of Rs 100 are required to pay 12 paisa to the organization issuing CoO.
Export Council of Nepal, Nepal Carpet Exporters' Association, Garment Association of Nepal, Federation of Handicrafts Association of Nepal, Nepal Freight Forwarders' Association, Federation of Customs Agents, Nepal Handmade Paper Association, Gold and Silver Dealers' Association, Nepal Pashmina Industries' Association, Lalitpur Handicraft Association and Nepal Association of Custom Agents, are the Nepali exporters that have urged the government to render CoO as non-obligatory.
Fibre2Fashion News Desk - India
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