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Class : 11
Unit : Business

Introduce Trade and Export Promotion Center (TEPC). Explain the function of TEPC.

Ans : The Government of Nepal has established “Trade and Export Promotion Center”, a national trade promotion organization of the country in November 2006. TEPC has been established with the objective of promoting foreign trade in general and export trade in particular of the country. It has been established to provide support for private to promote export oriented production and distribution of goods and services. Functions of Trade and Export Promotion Center (TEPC) Ans:- The functions of TEPC are explained below with these following points: i) Provide advice to the government:- On the basis of time and requirement government of Nepal needs to develop new rules and regulation for promotion of international trade. At that time, TEPC is to provide advice to the Government of Nepal in formulating policies for the development and expansion of Trade and export. ii) Strength national economy:- TEPC is to contribute for strengthening the national economic by developing and expanding trade and export of the country. It assists to diversify trade by identifying potential market for exportable products. iii) Co-operate to diversify trade:- It cooperates in opening institution for export promotion and to diversify trade. It provides technical assistant to such organizations for improving quality and standard of exportable products. iv) Attract investment:- TEPC implements appropriate programs so as to attract investment at the national and international level in the country. It encourages the investors to involve in export oriented and import management projects. v) Act as an information pool:- TEPC acts as information pool by collecting, disseminating and publishing useful trade related information. It provides such information to entrepreneurs at national and international levels involved in export oriented business. vi) Identifying the problems in foreign trade:- It involves in studying and identifying the problems of foreign trade of the country. It also provides advice to the Government of Nepal with appropriate measures for problems. vii) Support to the exporters:- It provides support to the exporters by promoting their products and services such as it assist in market test of importable products.
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