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MFA end takes toll of domestic garment industry

03 Jan '06
1 min read

Readymade garments export graph has been on the decline since expiry of multi-fiber agreement (MFA).

The Nepal Garment Association reports garment exports stood at $ 50.7 million compared to the previous year of $ 85.7 million.

Export to US showed a 41 percent dip in ready made garments compared to earlier years.

Canadian exports too registered a fall of 9.75 percent in 2005 worth $1.4 million compared to previous year's figure of $1.5 million.

Along with Nepal, other poor economies like Bangladesh and Cambodia too, have recorded a downslide in garment exports and job losses within the industry along with Nepal.

Nepal too was putting in efforts to get easy garment access like sub-Saharan continent from the US.

Officials of Association have sought immediate steps to save the industry.

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