By 2025, exports are expected to climb by $7 billion.

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The Federation of Export Entrepreneurs has set a goal of increasing exports to $7 billion by 2025.

The Federation also stated that it intends to expand exports by Rs 2 billion in the next three years.

The Federation underlined the importance of developing local products and exports to make the country rich during a virtual conference with representatives of diplomatic missions from 40 countries on the promotion of exports.

The diplomatic missions would provide information on the country’s need for goods and make recommendations to the Federation. On Thursday, it was revealed a press conference.

Ram Bahadur Gurung, the Federation Chairperson and a member of the Gandaki Province Assembly, stated that they have begun talks with a diplomatic mission in order to minimise Nepal’s trade imbalance. β€œThe Federation aims to increase agricultural and industrial production as well as exports. Another priority is energy export,” he stated.

Nepal currently exports over 950 items to more than 120 countries. He emphasised that the government’s goal should be the development of the industrial sector.

Top export commodities include carpets, readymade clothes, pashmina, and phelt. The main market for Nepali products is India, followed by the United States.

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