Kathmandu |President of the International Chamber of Commerce (ICC) Nepal, Rajesh Kaji Shrestha, has emphasized the crucial role of Incoterms® 2020 in making Nepal’s international trade safe, transparent, and efficient, especially for a landlocked and developing country like Nepal.

Speaking at a special seminar organized by the ICC Desk of the Nepal Chamber of Commerce (NCC) on the occasion of the Diamond Jubilee of the Nepal Chamber of Commerce, President Shrestha said that effective coordination among the Ministry of Commerce, Customs Department, Nepal Rastra Bank, banks, insurance companies, importers, and exporters is essential to strengthen Nepal’s trade ecosystem.

The seminar, supported by the International Chamber of Commerce Headquarters, focused on “Incoterms® 2020: Practical Dimensions of Import and Export.” Shrestha noted that Incoterms play a vital role in clearly defining the responsibilities, risks, and costs between buyers and sellers, helping to minimize disputes and procedural complications.

Highlighting Nepal’s trade realities, he pointed out that Nepal conducts a significant volume of trade with China and India via land routes, which often creates confusion as Incoterms are traditionally interpreted in the context of sea transport. Due to limited clarity on the application of Incoterms in land-based trade, Nepal frequently faces challenges in customs clearance, banking transactions, and documentation processes, he said.

The program also featured a keynote presentation by Ms. Valle García de Novales, Vice Chair of the ICC Global Commercial Law & Practice Commission, who shared international experience and practical insights on Incoterms® 2020. Her guidance, Shrestha said, would be highly beneficial for Nepal’s business and trading community.

Additionally, a presentation from the Nepali side on current import–export practices and challenges helped participants better understand Nepal’s position within the international trading system.

Concluding his remarks, President Shrestha expressed gratitude to all speakers, participants, the organizing team, ICC Desk Secretary General Naresh Shrestha, and for the supporters. He expressed confidence that active participation would make the seminar meaningful and productive for Nepal’s trade sector.