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Barak Obama signed trade agreement related to Nepal2016-02-27 14:13:47

After signing by An American President Barak Obama Wednesday, some Nepali products duty free access to the American markets

Including certain carpets, shawls headgear, scarves and travel goods, Posted on Us Embassy Kathmandu’s website the legislation authorizing special trade preferences for our country grants duty-free tariff benefits for up to 66 types of Nepalese items.

The Nepal related program is authorized for ten year with the hope to recover Nepal’s economy which effects due to the disaster earthquake in 2015. This type of opportunity s fabulous for Nepali business sector to expand our products to US markets.

For Nepalese exports this type of program grants duty-free tariff advantages not currently eligible for benefits under the General System of preferences.

Adding that the America forward to learning more about Nepal’s plans for Applying the TFA and how the American government to   supply to the worldwide The US ambassador to Nepal Alaina B teplitz in the embassy statement as Nepal’s local products is popular in worldwide facing problems without any business chances.

America is also aware that this type of products will not affect the US economy. Meanwhile Nepali stakeholders have asked to the government to update Nepal’s labor laws, to provide continuous power as well as facilitate exporters to benefit from the USA move.

President of Garment Association Nepal, according to him the US market used to make up to 85 % of the total exports garments from Nepal.  If the Nepal government took it serious it could benefit Nepal highly.

Until 2002, the garments products used to exports Rs 12 billion right until 2002 and it has gone down by Rs 5 billion these years.

Most of the traditional handmade products are worldwide famous and people are keen to use it. Most of the people who visit Nepal buy something special as gift from the country before they depart. Barak Obama’s signature on it may change Nepal’s tourism products in a proper way.

Source: My Republica News 

 

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