International Trade Law Firm

Nepal's Competition Law, which is the Competition Promotion and Market Protection Act, 2063 (2007), is the main legal instrument that regulates the competition and market practices in Nepal. The law was enacted in 2007 with the aim of making Nepal's economy more open, liberal, market-oriented, and competitive by maintaining fair competition between or among the producers or distributors of goods or services, enhancing national productivity by developing the business capacity of producers or distributors by way of competition, protecting markets against undesirable interference, encouraging to make the produced goods and services available to the consumers at a competitive price by enhancing the quality of goods or services by way of controlling monopoly and restrictive trade practices, and maintaining the economic interests and decency of the general public by doing away with possible unfair competition in trade practices.

Nepal's e-commerce scene is exploding, but a lack of specific regulations is holding it back. The government's draft e-commerce bill aims to change that. This new legislation promises to create a secure and fair online marketplace for businesses and consumers.The bill introduces clear rules for online contracts, cancellations, and product guarantees. It also emphasizes consumer protection through diverse payment methods, transparent delivery timelines, and penalties for non-compliant sellers. The bill opens doors for Nepali businesses to reach global markets by aligning with international standards.The draft e-commerce bill is a crucial first step, but it's not the only factor. Building a thriving e-commerce ecosystem requires government, businesses, and consumers collaboration. Investing in infrastructure, technology, and public awareness will be essential for Nepal to ride the e-commerce wave and become a regional leader in the digital economy.