Trade plays a vital role in the pace of economic development of the country by boosting the production and consumption sectors. The country’s foreign trade has been expanding every passing year and has increased by around four-fold in the last decade from Rs 220.5 billion in fiscal year 2005/06 to Rs 852.29 billion in fiscal year 2015/16.
Along with the rapid expansion in foreign trade, we need to upgrade our trade related infrastructure to facilitate trade and minimize the cost and time of trade. Robust infrastructure – Roadways, Railways, Inland Clearance Depots (ICDs), Integrated Check Posts (ICPs) – are the backbone of the trade sector. Infrastructure development will have a multiplier benefit to the production and consumption sectors.
Nepal Intermodal Transport Development Board (NITDB) has been engaged in developing trade related infrastructure as well as framing the legal and procedural modalities for the transit and transport service utilization from both neighbouring countries– India and China. For the sustainable development in trade facilitation, NITDB has been focusing on developing new ICDs and expanding the existing one to cater to the traffic in the future.