Nepali Times
Weather
Garments gain


Exports of ready-made garments to the US jumped in the month of February over the same period in 2005 but dropped one-third in the past two years, according to the Garment Association of Nepal (GAN). Exports totalled $ 6.6 million in February this year compared to $ 9.9 million in February 2004. Sales have plummeted after duty-free access to many western markets ended with the phase-out of the Multi-fibre Agreement on 1 January because of WTO rules. About 80 percent of Nepal's garment makers have closed shop since then. In 2005, exports to the US fell 41 percent, compared to a drop of 30 percent in 2004. Nepal, neighbours like Bangladesh and other least-developed countries have been lobbying for special access to western markets since the agreement was phased out but have been unsuccessful to date. February's export hike was thanks to an increase in orders by clothing manufacturer GAP, according to GAN's Basant Pokhrel.


LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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