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US set to allow duty free access for Nepalese garments
14 Dec '15
4 min read
To be able to fully capitalise on preferential treatment extended by the US, apparel entrepreneurs have sought export incentive of up to 10 per cent for five years, early approval of the Labour Bill from the parliament, subsidised interest rates from banks and financial institutions and abundant supply of power in factories.
To avail this facility, there must be at least 35 per cent value addition on products. Nepali entrepreneurs have said value addition on garments is 70 per cent. However, Nepali garments are seven to 10 per cent more expensive than those from other South Asian nations due to transport costs.
According to GAN, Nepal's export to the US stood at 0.02 per cent of the latter's total apparel import during the peak time. The limit set by the US customs law allows import of up to 1.5 per cent of the total apparel import under zero tariff facility, which means there is room for the country to expand its apparel market in the US. (SH)
Fibre2Fashion News Desk – India
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