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On Aug 18, WTO Director-General Ngozi Okonjo-Iweala received Nepal’s instrument of acceptance of the Agreement on Fisheries Subsidies from Nepal’s WTO Ambassador Ram Prasad Subedi. Just three more acceptances are needed for the agreement to enter into force. 

DG Okonjo-Iweala said: “Only through collective action can we restore the health of our oceans—and curbing harmful fisheries subsidies is an important step to this end. I am deeply grateful to Nepal for its leadership as a landlocked least-developed country. With Nepal’s ratification, we are even closer to crossing the finish line in bringing the landmark Agreement on Fisheries Subsidies into force. Only three more acceptances to go!”

Ambassador Subedi said: “Nepal is very pleased to deposit its instrument of acceptance of the WTO Agreement on Fisheries Subsidies today, reaffirming our commitment to a rules-based multilateral trading system. As a landlocked country, we nonetheless share with other WTO members a responsibility to ensure the sustainable use of marine resources. We believe that healthy marine ecosystems are vital for food security, environmental sustainability and the livelihoods of millions of people around the world.”

Formal acceptances from two-thirds of WTO members are required for the agreement to enter into force—representing 111 members. At the WTO’s 12th Ministerial Conference (MC12) held in Geneva in June 2022, ministers adopted the Agreement on Fisheries Subsidies through consensus, setting new, binding, multilateral rules to curb harmful fisheries subsidies. The agreement prohibits subsidies for illegal, unreported and unregulated fishing, for fishing overfished stocks, and for fishing on the unregulated high seas.

Ministers also recognized the needs of developing economies and least-developed countries (LDCs) by establishing a fund to provide technical assistance and capacity-building to help governments that have formally accepted the agreement to implement the new obligations.

In early June, the Fish Fund launched a Call for Proposals inviting developing economies and LDCs that have ratified the agreement to submit requests for project grants aimed at helping them implement the Agreement. Applications are due by Oct 9. 

WTO members also agreed at MC12 to continue negotiating on remaining fisheries subsidies issues with the aim of finding consensus on additional provisions to further strengthen the disciplines on fisheries subsidies.

The Nepal Stock Exchange (NEPSE) gained 9. 76 points to close at 2, 780. 15 points on Tuesday.

Similarly, the sensitive index surged by 2. 37 points to close at 477. 71 points.

A total of 13,124,310-unit shares of 316 companies were traded for Rs 5. 63 billion.

Meanwhile, Sanvi Energy Limited (SANVI) was the top gainer today, with its price surging by 6. 98 percent. Likewise, Narayani Development Bank Limited (NABBC) was the top loser as its price fell by 6. 14 percent.

At the end of the day, total market capitalization stood at Rs 1. 57 trillion.

The Birgunj Customs Office collected Rs 18.39 billion in revenue during the first month of the current fiscal year 2082/83 (2025/26).

Effective from July 17, the Birgunj Customs Office and the Dry Port Customs Office merged to provide integrated services. The latest revenue figures reflect collections made under this integrated system.

According to the Office, the collected amount accounts for 87.68 percent of the monthly target. The revenue target for mid-July to mid-August was set at Rs 20.98 billion.

The Office had collected Rs 15.92 billion during the same period last fiscal year (2081/82), according to Customs Chief Administrator Deepak Lamichhane.

The Department of Customs has set an annual revenue target of Rs 273.39 billion for the current fiscal year.

The price of gold has dropped by Rs 1, 200 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 195, 100 per tola today. It was traded at Rs 196, 300 per tola on Monday.

Similarly, the price of silver has dropped by Rs 15 and is being traded at Rs 2, 300 per tola.