Home / Knowledge / News / Textiles / US facility for Nepal to be ready for use by August
US facility for Nepal to be ready for use by August
18
Mar '16
Nepal is still about four months away before it will be able to utilise the new facility extended by the US government through an exclusive law, The Himalayan Times has reported. It will only be in August that the law will come into force.

The US government has extended duty-free market access for 66 Nepali products that include carpets, headgears, shawls and scarves, handbags and suitcases, among others, for the next 10 years.

US President Barack Obama signed the Trade Facilitation and Trade Enforcement Act of 2015 into law, but there are some procedural stipulations that need to be completed by the administration to bring the law into effect.

“The administration now has to complete some procedural stipulations but it will be completed within this summer,” said Dawn M Shackleford, Deputy Assistant US Trade Representative for India and Nepal.

There are crucial procedural steps ahead to bring the law into effect. The US President must certify that Nepal meets the country eligibility requirements of the programme which are the same as those for countries that participate in the Generalised System of Preferences (GSP) programme and the African Growth and Opportunity Act (AGOA), the report said.

Nepal is already eligible for GSP programme of the US government but the country must meet the eligibility criteria under the AGOA that includes rule of law, anti-corruption, and human rights protection.

The second process is products eligibility. The administration has to seek report reviewed by the US International Trade Commission (ITC) of the products covered by the preference programme to ensure that an increase in imports of these products into the US market will not negatively affect its economy, according to Shackleford.

“The US ITC will conduct the study on impacts on consumers, companies and overall impact in the US economy.”

After these procedural steps are concluded, the President has to issue proclamation to update harmonised tariff schedule of the US so that the 66 products that have been granted the facility can be imported at zero tariff from Nepal. The products which have received preferential facility should have minimum of 35 per cent value addition.

In 2015, trade between Nepal and the US stood at $123 million. During this time, Nepal exported goods worth $87 million to the US. Of these exports, Nepal enjoyed access to duty-free treatment for eligible products worth approximately $5.8 million under the GSP programme.

With a view to facilitating economic growth through trade, the US is establishing a new stand-alone trade preference programme for Nepal.

Apart from that, the US government will also support trade facilities based on the demand of Nepal government. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search