Trade liberalization, poverty and development in Nepal

As part of the global phenomenon of trade liberalization, Nepal embarked on market-oriented trade reforms in the mid-1980s. These efforts intensified in the early 1990s after the restoration of a democratic system. Nepal's accession to the WTO in 2004 and commitment to comply with many conditions related to restructuring tariff rates and opening the economy in general and the services sector in particular further augmented that process.