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EC prolongs preferential access for garment exporters

19
Jan '07
As the Multi Fibre Agreement (MFA) expired in January 2005, and US withdrew quota and duty facilities, Nepal's garment exports fell by around 41 percent.

According to the Garment Association of Nepal (GAN), garments worth US $47.7 million were exported to the US in 2006 which is 6 percent less as compared to the $50.7 million in 2005.

But European Commission's decision to prolong Nepal's exemption from Generalised System of Preferences (GSP) rules for certain textile products has encouraged Nepalese Government.

Though Nepal had been enjoying preferential access to European countries for certain textiles since 1997, EC has decided to prolong the preferential entrance till 31 December, 2008.

This exemption from the rules of origin would allow Nepalese garment manufacturers to penetrate countries like Bulgaria and Romania, new members of EU.

This will also allow the Nepal Government to choose the countries for the import of raw materials.


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