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Nepal's SEZ authority to operate GPZ within next fiscal
11
Jul '18
The garment processing zone (GPZ) in Nepal’s Simara Special Economic Zone (SEZ) will be operationalised within the next fiscal year, according to the country’s SEZ Development Authority, which said construction of the GPZ’s physical infrastructure is under way in full swing and is expected to be completed within the next six to seven months.

Collaborative efforts from all government authorities involved is crucial to operationalise the GPZ at the earliest, said authority executive director Chandika Bhatta.

The GPZ was conceptualised after the United States extended zero tariff preference for 66 products, including apparels, into its market through ‘Trade Facilitation and Trade Enforcement Act’ in February 2016, according to a report in a Kathmandu-based English-language daily.

The GPZ is likely to bring down the production and export costs of Nepal, which is relatively higher compared to other regional neighbours, and slash the high transport and shipment costs due to Nepal’s landlocked status as it is located near the country’s only rail-linked dry port in Birgunj. (DS)

Fibre2Fashion News Desk – India


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