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KATHMANDU, Thursday (AFP) Kathmandu Wednesday announced it would grant five-year multiple-entry visas to foreign importers of Nepalese products.

"The five-year multiple visa with a provision of its extension has been arranged for foreign importers of Nepalese products," said a statement from the Nepalese Ministry of Commerce, Industry and Local Supply.

A ministry spokesman said foreigners from overseas markets including Japan, Singapore, the US, UK, France and Germany would be eligible for the visas which are valid for visits of up to 90 days.

The move is designed to encourage importers to come to Nepal, an official said.

It was welcomed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) who said it would boost exports.

Nepal's exports have fallen dramatically after September 11, the massacre of 10 members of the royal family in June and an increasing violent Maoist rebellion.

Exports fell by 8.3 percent during the first half of the current fiscal year to mid-July compared with the same period last year.

"Exports of Nepal's cotton and textile garments, cashmere woollen shawls known as pashmina and hand-woven woollen carpets representing over 80 percent of the country's total exports have been badly affected," Prashant Aggrawal of the FNCCI told AFP. 

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