Trade And Investment Framework Agreement (Tifa) Wi

Trade and investiture Framework promise (TIFA) with US: A Prospect

Narayan Prasad Pokhrel?

Background:

Historic trade relation of Nepal-US was formally open in 1947 as Nepal and United States signed Friendship and occupation Agreement between two countries on 25, April 1947. The agreement open up diplomatic relation and further commercial relation as Most Favored Nations (MFN) principle. After WTO agreement, MFN trade relation with US loosed its ground.

Nepal has signed bilateral agreement with 18 countries and among them, NepalIndia Trade Agreement, Nepal chinaware Trade Agreement and Nepal-US Trade and Investment Framework Agreement are crucial for trade and economic development of the country.

unconstipated though US government is providing Generalized System of perceptiveness (GSP) facilities to around 4800 products from developing and least developed countries (LDCs) in tradition eight digit classification (HS classification). Under such planning a wide range of neplese products (except carpet and textile) are enjoying transaction free excess to US market. After the removal of quota transcription for textile and garments by US, Nepalese export to US exhibits fall trend.

Nepal US Trade Pattern
US is one of the leading commerce partners of Nepal since a long. The volume of import from and export to US has been Rs 5.



38 one thousand million and Rs. 3.87 billion respectively in F/Y 2009/10.US is motionlessness the third largest export destination for Neplese products after India and European Union. The put back below shows trade with US from F/Y 2005/06 to 2009/10. trade to US is y-o-y decreasing. The most important reason behind the filiation in the export in the US market is out-of-pocket to the phase out of quota of readymade garments.



Source: Ministry of commerce and supplies

Trade and Investment Framework Agreement

Nepal is the fourth South Asian country to raise into TIFA with the United States. The US has so far signed the TIFA with 42 countries, including South...If you want to get a full essay, order it on our website: Ordercustompaper.com



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