Kathmandu:
Kiran Prakash Shakya, president of the Nepal-USA Chamber of Commerce, has urged Nepal to capitalize on the 10 percent base tariff imposed by the United States to increase exports to the American market.
Speaking at the chamber’s 24th annual general meeting on Thursday, Shakya said Nepal holds a comparative advantage at a time when neighboring countries face higher tariffs. “The U.S. has set only a 10 percent duty rate for Nepal, which provides significant opportunities to expand exports,” he said.
The United States is Nepal’s second-largest export destination after India. Key exports include carpets, readymade garments, handicrafts, yak cheese (chhurpi), pashmina, and wool felt. In the last fiscal year, Nepal exported goods worth Rs. 18.32 billion to the U.S.
Shakya noted that although Nepal Trade Preference Program (NTPP) allows duty-free access to 77 Nepali products until December 31, 2025, the facility was nullified by an executive order of former President Donald Trump. “Exporters are still paying the 10 percent base tariff, meaning the duty-free provision has not been implemented in practice,” he explained.
He added that the chamber has been advising the government ahead of the upcoming Trade and Investment Framework Agreement (TIFA) Council meeting and stressed the need to implement commitments made under the framework.
During the event, the chamber honored outstanding exporters and importers in various categories, including carpets, readymade garments, handicrafts, wool felt, pashmina, and chhurpi, as well as top importers, startup entrepreneurs, and women entrepreneurs. Eight chamber members who received the Commercially Important Person (CIP) recognition from the government were also felicitated.