The main market for garments, Nepal's largest foreign currency earner, continued to disappoint in October. Exports to the United States plummeted 57 percent compared to last year, following a 48 percent drop in September. Sales to the US have fallen off since 1 January, when garment quotas were ended in line with WTO rules. But according to the Garment Association of Nepal (GAN), if passed the Trade Act 2000 bill pending at the US Senate would help to boost exports from Least Developed Countries (LDCs) like Nepal to the US market.
Garment sales slide
Business Briefs | From Issue #276 (December 9-15, 2005)
