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Related Keywords: extended duty free market access, including carpets, must meet eligibility criteria under the AGOA, Nepal already eligible for GSP programme, Nepal will be able to utilise the new facility, shawls and scarves, sixty six Nepali products, through an exclusive law by August this year, US government, US International Trade Commission

The US government has extended duty-free market access for 66 Nepali products that include carpets, headgears, shawls and scarves, handbags and suitcases, among others, for the next 10 years to help the Nepali economy, which was shattered by the earthquakes of April and May last year. Nepal will be able to utilise the new facility extended by the US government through an exclusive law by August this year.

Related Keywords: at ASEAN-US Summit, Cambodia Minister, GSP to ninety five of total commodities, Hun Sen, Most favoured nation status, part of GSP program, products produced in Cambodia, provides duty free status, quota free to least developed countries, reduces tariffs on eligible products, US government, with tariff exemption, WTo framwork

The US government currently provides duty-free status to over 5,000 types of products produced in Cambodia as part of its Generalized System of Preferences (GSP) Program. Washington granted Cambodia GSP trade privileges in 1996, along with Most Favoured Nation (MFN) status, which reduces tariffs on eligible products.

The combination of GSP and MFN status has allowed many Cambodian products to access the US market, making them more price competitive against the products of countries that do not enjoy the privileges.

Related Keywords: Generalised System of Preferences, MoCS, Nepali readymade garment industry, TIFA, US government, US market

The Ministry of Commerce and Supplies (MoCS) has proposed to hold the long overdue talks on Trade and Investment Framework Agreement (TIFA) with the US government next month.
 
Nepal and the US had signed TIFA on April 15, 2011, to monitor trade and investment relations between the two countries, identify opportunities for expanding trade and investment, and identify relevant issues, such as those related to the protection of intellectual property rights, worker rights, and the environment.