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

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

February 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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