December 27, 2001

KATHMANDU: The European Union Wednesday announced concessions for Nepali garment exports until December 31, 2004, an announcement said. The existing agreement expires December 31, 2001.

The EU has extended the period of the derogation of the Rules of Origin for Nepal: usually EU expects fabrics should be of Nepali origin whereas they are mainly imported from India. The EC gives such facilities to least developed countries like Nepal.

The move will help revive an uncertain and ailing garment industry.