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ITC extends $2mn aid to Nepal's pashmina sector
17
Jun '13
The International Trade Centre (ITC), a subsidiary organization of the World Trade Organization (WTO), will fund US$ 2 million for Nepal’s Pashmina Enhancement and Trade Support (PETS) project.
 
Nepal’s Ministry of Commerce and Supplies (MoCS) said the PETS project will receive funds under the Technical Assistance and Capacity Building initiative of the ITC, according to The Himalayan Times.
 
An official agreement is likely to be signed to formalize the funds’ deal, the report said.
 
The three-year long ITC initiative will contribute to the economic and social development of Nepal by boosting the export growth and market diversification of chyangra and pashmina products that are manufactured in Nepal.
 
The PETS project will include a promotional short film and book on the various stages of pashmina production, which will be circulated among the member nations of WTO to popularize the pashmina products at the international level.  
 
Earlier, the Nepali Government had initiated talks with ITC to promote the pashmina industry of the country and develop its own brand in the global market. 
 

Fibre2fashion News Desk - India

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