News dalla rete ITA

3 Agosto 2020

Nepal

NEPAL’S READYMADE GARMENT SECTOR FACES NEPALESE RUPEE (NPR) 1.25 BILLION HIT AS FOREIGN BUYERS CANCEL ORDERS

Foreign buyers have so far cancelled or held up orders worth NPR 1.25 billion (approx. Euro 9 million) of readymade garments from Nepal in the wake of the Covid-19 pandemic, the Garment Association of Nepal said. The cancelled or held up orders are equivalent to around 28 percent of Nepal’s total garment exports in the first 11 months of the last fiscal year 2019-20 which ended in mid-July, according to the Trade and Export Promotion Centre, an export promotion and facilitating agency under the Commerce Ministry. In the first 11 months of the last fiscal year, readymade garments worth NPR 4.54 billion (approx. Euro 32.7 million) were exported. According to Mr. Chandi Prasad Aryal, president of Nepal Garment Association, it was not only difficult to import raw materials for producing garments, but exporting them was also equally difficult as the pandemic caused border restrictions, virtually halting transport movement in many countries, including Nepal. As the garment sector was recovering from years of downturns, the virus pandemic has emerged as a big setback for the sector. (ICE NEW DELHI)


Fonte notizia: The Kathmandu Post