P.M. BRIEFING : Nepal, U.S. Sign Trade Pact
Nepal has been alloted a quota worth $350 million in exports of cotton trousers, shirts, blouses and skirts to the United States over the next three years under an agreement signed today between the two countries.
The memorandum of understanding was signed by new U.S. Ambassador Julia Chang Bloch and Nepal Commerce Secretary Damodar Gautam, the U.S. Embassy announced.
Over the life of the agreement, which runs until 1993, cotton trousers worth $100 million and $250-million worth of cotton shirts, blouses and skirts can be exported to the United States, the embassy said.
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