Nepal Purbadhar

मङ्लबार, असार ५, २०८१
Tuesday, June 18, 2024

मङ्लबार, असार ५, २०८१
Tuesday, June 18, 2024

EU-TIP-trained instructors multiplying market intelligence knowledge among youths

KATHMANDU: Nepal is graduating from the Least Developed Country (LDC) status by 2026 when the country will lose many trade privileges offered by major international market destinations. A joint ITC-UN OHRLLS (Office of High Representative for Least Developed Countries, Landlocked Developing Counties, Small Island Developing States) study assessed the impacts of Nepal’s graduation and the resulting increase in average trade-weighted tariffs. The study shows that Nepal’s graduation will affect 22 percent of the exports projected for 2026 with trade-weighted tariffs rising from 1 percent to 2 percent.

Nepal needs to develop trade capacities through increased supplies and export volume with enhanced market intelligence among Nepali entrepreneurs to tackle its international trade challenges and support a smooth transition. The European Union-funded EU-Nepal Trade and Investment Programme (TIP), has been supporting enhancing and expanding the knowledge about the international market through its market analysis tools- Trade Map and Market Access Map. Such training initiatives from the EU Nepal TIP on market intelligence have started showing a positive impact.

Nepal government’s officials and professors from Tribhuvan University -Nepal’s oldest and world’s largest university in terms of student count,- who received the Training of Trainers (ToT) from ITC’s international experts on using the Market Access Map and Trade Map are multiplying knowledge among young college students, small entrepreneurs, and policymakers through formal training, discussions, and other forums. Latest in a series of such capacity-enhancing events by the EU Nepal TIP-trained instructors, training on ITC’s market analysis tools was organized in Kathmandu on April 1st and April 2nd, targeting college students. Three instructors, including a female, imparted market intelligence training for students of a leading management college in Kathmandu. During the two-day training attended by 32 participants, including 20 females, the trainers shared knowledge about using market analysis tools to navigate international trade information crucial to promoting trade.

ITC’s Trade Map and Market Access Map are useful for getting crucial trade information, including international market requirements, understanding trade indicators and data, and trade harmonization systems.

It is “Unlike our college’s regular academic class, this two-day hands-on training allowed us to build our capacity to utilize market intelligence tools- Market Access Map and Trade Map. We can use this knowledge in our research works or future business promotion. We got the opportunity to Nepal’s trade status, international requirements, and trade prospects,” said Swastika Shrestha, one of the participants, who is planning to venture into an export business.

Sujata Khattri, another participant, found the training timely and relevant to boost the international trade knowledge of the new generation at a time when Nepal is suffering from an increasing trade deficit amid weak export capacities. “We are management students- meaning that at least a few of us enter the trade business. This newly acquired market intelligence capacity will greatly help aspiring businessmen. Thanks to ITC for developing such critical tools for market intelligence,” said Khatri.

Tara Prasad Pokharel, one of the three trainers of this workshop, is among 18 successful participants in three rounds of the ToT organized by EU Nepal TIP last year on market intelligence tools. “The ToT training events were great opportunities to learn about various trade dynamics through online market intelligence tools. I am happy to multiply my knowledge among young and energetic students, who can use the acquired knowledge not only in businesses but also in advising policymakers and various trade research,” said Pokharel, aspiring to become ITC certified trainer on market intelligence. Some ToT trained are also helping businesses utilize Trade Map and Market Access Map to enhance their market information for trade promotion, while others are assisting trade research and policymaking process.

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