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Garment exports to US reel under quota abolition
08 Aug '06
1 min read
Hit hard by abolition of multi fiber agreement with the US ending unlimited excess to its garment markets from last year, export of Nepalese garments has seen a dive by 17 percent in July compared to last year, according to Garment Association of Nepal.
Nepal's garment and apparel export reached the figures US $3.9 million as against $4.67 million last year to US, the largest markets of Nepalese garments in spite of slight recovery in May and July with rise of 33 and 28 percent respectively.
Various factors like non tariff barriers, social compliances, lethargic customs procedures and documentations have only added to the agony for a long period.
The ready made garment export has been witnessing a slide since 2004 as it declined by 30 percent and by 41 percent in year 2005.
Though, there is a glimmer of hope if "Trade Act 2000" is approved as the bill encourages imports from the Least Developed Nations (LDC) in American markets and it provides duty free access of their goods reducing the price by 17 percent.
Nepal's garment and apparel export reached the figures US $3.9 million as against $4.67 million last year to US, the largest markets of Nepalese garments in spite of slight recovery in May and July with rise of 33 and 28 percent respectively.
Various factors like non tariff barriers, social compliances, lethargic customs procedures and documentations have only added to the agony for a long period.
The ready made garment export has been witnessing a slide since 2004 as it declined by 30 percent and by 41 percent in year 2005.
Though, there is a glimmer of hope if "Trade Act 2000" is approved as the bill encourages imports from the Least Developed Nations (LDC) in American markets and it provides duty free access of their goods reducing the price by 17 percent.
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