Nepal's readymade garment export plummets by half
Tuesday, 12 February 2008
KATHMANDU, Feb 11 (Xinhua): Nepal's readymade garment export plummeted by nearly 50 per cent in the year 2007 as compared with the year 2006, the Nepali national news agency RSS reported today.
The report said exportation was severely affected by the quota system imposed by the United States, the major importer of the Nepali garments.
In 2006, Nepal exported readymade garments worth 47.7 million U. S. dollars while the export in 2007 was worth only 24.8 million U. S. dollars. It was revealed at the 18th annual general assembly of Nepal Readymade Garment Industries Association in capital Kathmandu Sunday.
On the occasion, Nepali Finance Minister Ram Sharan Mahat promised to extend possible government assistance to increase export of readymade garments.
President of the association Kiran Prakash Sakha urged the government to lower the customs duty on export as a relief to the readymade garment industry.
The report said exportation was severely affected by the quota system imposed by the United States, the major importer of the Nepali garments.
In 2006, Nepal exported readymade garments worth 47.7 million U. S. dollars while the export in 2007 was worth only 24.8 million U. S. dollars. It was revealed at the 18th annual general assembly of Nepal Readymade Garment Industries Association in capital Kathmandu Sunday.
On the occasion, Nepali Finance Minister Ram Sharan Mahat promised to extend possible government assistance to increase export of readymade garments.
President of the association Kiran Prakash Sakha urged the government to lower the customs duty on export as a relief to the readymade garment industry.