Feb 25, 2016- U.S. President Barack Obama signed legislation authorizing
special trade preferences for Nepal, which grants duty-free tariff benefits for
up to 66 types of items, including certain carpets, headgear, shawls, scarves,
and travel goods.
A press statement issued by US embassy in Kathmandu stated that the Nepal
program was authorised for ten years and designed to help Nepal’s economic
recovery from the earthquakes that struck the country last year. The program
grants duty-free tariff benefits for Nepali exports not currently eligible for
benefits under the General System of Preferences (GSP). The Nepal Trade
Preferences Legislation also outlines a trade capacity building program,
focused on helping Nepal implement the World Trade Organization’s Trade
Facilitation Agreement (TFA).
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