Nepalnews.com, Nepal
Nepal’s readymade garment has witnessed a whooping fall in export by 76 percent to the United States during the month of July, exporting worth only USD 519,524.84.
Nepal’s export to the US market was at $2.650 million in January, $2.014 million in February, $991,820.70 in March, $1.266 million in April, $1.109 million in May and $929,366.08 in June.
The Nepali garments failed to tap the US market after it was opened to all competitions without quota restrictions and is almost in the verge of shutting down. Almost 90 percent of the garment export companies have already been closed. There were over 1,200 exporters at a time Nepali garments had high demand in the US market.
The US government has removed quota system for Nepali garments since 2005. The government and private sector sent several lobbying groups to US for free market access, but failed to get any substantial outcome in favour of Nepali products. nepalnews.com ia Aug 11 08
