July 27: Six thousand traders have obtained ExIm code for export and import of goods from Nepal after the government announced mandatory requirement of such code for foreign trade beginning from the current fiscal year.

The government records show that there were 18,000 businessmen involved in import and export of goods before the government introduced this mandatory provision for ExIm code.

Earlier, the government had adopted a policy to promote free trade as the then rules allowed anyone besides the listed entrepreneurs to import or export goods from any customs point of the country.

Tripureshwar-based Customs Department informed that only 6,000 businessmen from across the country have obtained the ExIm code as of July 26.

According to an official at the Customs Department, companies involved in this business for a long time have already obtained the code while those who trade occasionally are in the process of getting the code.

The ExIm code section of the department informed that the code is required shortly before the goods reach the customs point. “The code can be obtained as and when it is required. That might be the reason that all the importers and exporters have not taken it so far,” said the official requesting not to be named.  

The department has made arrangement of providing ExIm code after examining necessary documents and keeping collateral, which will be reclaimed upon the recommendation of the department after the goods are cleared.

The government had introduced the concept of ExIm code as per the Customs Act 2064 to encourage unauthorized trade activities.