Report

APPENDICES 227
II. Nepal – List of Article II (MFN) Exemptions
Sector or Description of measure indicating Countries to Intended Conditions creating the need for
Sub-sector its inconsistency with Article II which the Duration the exemption
measure applies
All Sectors Allocation of non-convertible India Indefinite To facilitate border traffic and
currency effected by commercial
regional integration by providing for
banks without involvement of
full current account convertibility of
Central Bank
Nepalese rupees into Indian rupees
Tourism Higher allocation of convertible All OECD Indefinite To facilitate border traffic and
currency for travel purposes countries regional integration by providing for
full current account convertibility of
Nepalese rupees into Indian rupees
III. Nepal – Air Transport Services
Sector/Sub-sector Limitations on Market Access Limitations on National Treatment
11 C. Air Transport Services
(d) Maintenance and repair (1) None (1) None
of aircraft (CPC 8868) (2) None (2) None
(3) None, except only through incorporation in (3) None
Nepal and with maximum foreign equity capital
of 51 per cent. Foreign equity participation will
be increased to 80 per cent after 5 years from
the date of accession
(4) Unbound, except as indicated in the horizontal (4) Unbound, except as indicated in the
section.
horizontal section.
Source: WTO Document No. GATS/SC/139, 30 August 2004.
Table A12.6 Bhutan’s Offer of Horizontal and Sector Specific Commitments
Sector/Sub-sector Limitations on Market Access Limitations on National Treatment
All Sectors included (3) To establish a new commercial presence in (3) Foreign investors are required to foster
in this Schedule Bhutan, minimum size of foreign investment is transfer of technology, introduction of
US$0.5 million, foreign investor’s equity holding management skills and provide
limited to 70%, unless otherwise indicated in training and employ Bhutanese
the sectoral commitments and the Business must nationals at all levels in the enterprise.
also be incorporated in Bhutan.
The investment shall be governed by sector The shares held by foreign nationals
specific policies and procedures as established and foreign juridical persons in locally
in the sectors included in this schedule.
incorporated companies are not
Unbound for measures regulating publicly
transferable without prior permission
funded services including with respect to
by the Government of Bhutan.
national treatment.
3. Construction and
related Engineering
Services
A. General construction (1) None (1) None
work for buildings (2) None (2) None
For warehouses and (3) Services must be provided through incorporation (3) None
industrial building where the foreign investor equity shall be limited (4) Unbound, except as indicated in the
(CPC 51230) to a maximum of 49% and jobs below US$ 11 horizontal section
million to be reserved for the domestic industry.
(4) Unbound, except as indicated in the horizontal
section.
Contd . . .