Kathmandu. US President Donald Trump has implemented “reciprocal tariffs” yesterday. Under which a minimum 10% customs duty will be levied on goods exported from Nepal. Most goods exported from China, Vietnam, Bangladesh, India, Pakistan, and Sri Lanka will be subject to customs duties of 34, 46, 37, 26, 29, and 44% respectively. |
These 6 countries are the world’s largest exporters of ready-made garments. Can we turn this new US trade policy into an opportunity and establish Nepal as a global hub for garment production by immediately injecting foreign investment from countries like China, Bangladesh, and India?
To transform the garment processing zone built on 300 bighas of Simara, which was scrapped due to inoperability, and other Special Economic Zones (SEZs) that have not been fully operational into garment processing hubs, we must immediately adopt a strategy to inject foreign investment and technology from these countries in collaboration with the private sector through active economic diplomacy.
However, Trump’s The high risks arising from uncertain policies should not be ignored. In the midst of a challenging geopolitical landscape that has not benefited from nearly four decades of globalization and is changing rapidly, for high and sustainable economic development and job creation, the state should play an active role in line with the concept of sovereign entrepreneurship and establish economic and diplomatic structures in line with the concept of sovereign entrepreneurship to connect Nepali products to the global value chain and establish them in the global market. |
(##(##Retrieved from Gauchan’s Facebook page)##
प्रतिक्रिया दिनुहोस्