While there are 77 such products in the list, the US Department granted access to the Nepali readymade garments.

US officials confirmed this at the fourth meeting of the Nepal-US Trade and Investment Framework Agreement (TIFA) Council held in US on November 13, 2018, said the Nepali Ministry of Industry, Commerce and Supplies.

“The participants of the meeting expressed their commitment that they would forward the proposal to the US Congress soon,” said the Ministry’s Secretary Chandra Kumar Ghimire.

Ghimire-led Nepali delegation held discussions with various US departments officials led by the Assistant US Trade Representative Mark Linscott.

As part of TPA in 2015, US had provided duty free access to around 77 Nepali products that hold high potential in trade with US. These include carpets and pashmina, headgear, scarves, travel goods and shawls. US kept the offer open until 2025.

Now, Nepali side pushed for inclusion of Nepali garments to the list owing to the products’ high competitive advantage.

“We highlighted to the US officials that Nepal has not been able to benefit from the trading of some items facilitated under TPA and to consider the inclusion of other goods which have larger export potential,” informed Ghimire.

He further added that they have also sought the US Government support with regard to exports until the time Nepal comes out of its political transition phase.

US Government has also expressed its willingness to offer technical support to Nepal to promote the production of goods under TPA list.

According to the Ministry officials, US has considered Nepal (among other South Asian countries) as its high priority with regard to promoting bilateral trade and investment.

Ghimire also informed that US officials were concerned about investment climate in Nepal.

“Implementation of existing provision in labor act, improvement in the law related to intellectual property right including copyright and facilitation of e-commerce are also major areas of interest of the US before they inject their investment in Nepal,” Ghimire adds.

Nepal signed TIFA with US on April 16, 2011 and the two countries agreed to hold the TIFA council every year under the provision and the last meeting was held in Kathmandu on April 20, 2017.

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In a meeting with the Under Secretary of the Ministry of Commerce & Industry of Oman Ahmed Hassan Al-Dheeb, Nepali Ambassador to Oman Sarmila Parajuli Dhakal briefed about all the latest developments in Nepal across various fields.

According to a press release, Dhakal explained that Nepal is on path towards economic development through industrialization.

Dhakal also informed Nepal’s move towards policy reforms related to foreign investment, Public-Private Partnership (PPP), industrial enterprises, economy, Special Economic Zones (SEZs), labor, mining, Intellectual Property (IP), banking, FDI provisions and repatriation of industry and commerce and capital to encourage foreign capital and technological investment.

He further highlighted Nepal’s advantage of having duty-free market access in the EU and American markets for almost 66 Nepali products.

In response, Al-Dheeb expressed Oman’s willingness to collaborate with Nepal in various sectors related to industry and commerce.

Both the sides also discussed export-oriented industries in Nepal. The Omani official welcomed Nepali businesspersons to bring Nepali products to Oman.

In this regard, he also expressed his readiness for organizing a Oman-Nepal business conference to set up business interactions between Omani buyers and Nepali exporters and businessmen.

The two sides also discussed investment in various agriculture, infrastructure, manufacturing and hydropower sectors of Nepal.

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In a move strengthening US-Nepal trade ties, the Government of United States has urged Nepal to make better utilization of the US trade facilitation program.

The US Ambassador to Nepal Aliana B Teplitz made a statement in this regard at a US-Nepal trade workshop held in Nepal, recently.

Nepal and US officials gathered for a workshop titled ‘Enhancing Nepal-US Trade by Utilizing Trade Preference Program’ jointly organized by Pavilion Group and the US Embassy in Nepal on October 10, 2017.

Addressing the gathering, Aliana said, “Clock is ticking for Nepali exporters and businesses to take advantage of the trade preference program offered by the US. The US-Nepal trade preference program creates an opportunity to expand the trade between the two countries. Nepali exporters and businesses have duty-free access only until 2025 to the US market for certain kinds of Nepali exports.”

She further stated that the special program under the Nepal Trade Preferences Act, which allows preferential treatment for certain exports from Nepal to the US, is a good opportunity for both the countries in strengthening economic ties.

In this regard, the US official said Nepal can increase its exports to US under the duty-free tariff facilitated by the trade preference program.

The program planned under the US Generalized System of Preferences (GSP) allows new duty-free tariff benefits for certain Nepali exports to the US, which includes carpets, headgear, bags, scarves, shawls, travel goods and leather.

Nepal’s Exports to US Can Be Doubled

Through this program, the US government intends to support the Nepali economy for its recovery from the 2015 earthquake. It has been effective from December 30, 2016 and is active until 2025.

Out of the total exports worth USD 89 million Nepal sent to the US in 2016, USD 6.75 million was exported under the duty-free tariff.

“The market potential for the products is obviously much greater. We hope that the USD 6.75 million can be doubled, if not tripled or quadrupled in the near future,” Aliana added.

In response, the Nepali Minister for Industry Sunil Bahadur Thapa said, “All these products can be manufactured and exported to the US and we can fully utilize the facility provided to us by the US if we come out of the comfort zone.”

Arjun Kumar Karki, Nepali Ambassador to the US said, “The private sector should make investment in the production of these items so that they can be exported to the US. If we would be able to do better, we can request the US Government for additional privilege.”

Made in Nepal Can Be of Special Advantage

On the occasion, Nepali exporters were also urged to try special ways to diversify and enhance their business as per the changing trends in foreign markets for full benefits.

“If more Nepali products are exported to the US, there would be high demand for these products, ‘Made in Nepal’ could be very powerful branding tool that you should take advantage of,” says Aliana.

Other experts, who had attended the workshop, opined that encouragement of production from Small and Medium Enterprises (SMEs), R&D and boosting connectivity in the domestic market can help Nepal in generating long-term business across foreign markets.

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