Kathmandu, Nov. 20: The United States of America has been positive to ensure zero customs to Nepali readymade garments.
The Ministry of Industry, Commerce and Trade informed that the American Trade Representatives (USTR) has signaled to initiate legal process for it after Nepal government's request.
In the meeting of the bilateral mechanism under the Trade and investment framework agreement (TIFA) held on Kartik 27, Nepal had requested the USA for the zero customs to various 77 items including the readymade garments.
Sharing the information about it, Ministry Secretary Chandra Kumar Ghimire said the US was urged for cooperation to boost Nepal's exports of readymade garments. "The US has taken Nepal's proposal very positively. Both sides have agreed that the report USTR submits to the Congress will mention zero custom to Nepal's readymade garments." For it, the law should allow the US. The drafts of the laws and endorsement are made only by the Congress there.
As the Secretary said the US has stressed on policy reform in Nepal so that the investment climate would be improved.
The Nepali side, during the meeting, had argued that the investment climate was being created in Nepal with the political stability.
Nepal is doing the business of some 79 million US dollars with the US in a year, according to Secretary Ghimire. RSS
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