KATHMANDU, Dec 17: Nepal and the United States agreed to remain engaged on market access issues of mutual interest.
The two countries have reached a consensus through the fifth meeting of the United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA). The meeting was held virtually on Tuesday, according to a press statement issued by the US Embassy in Nepal.
CEC Thapaliya and UN Women Country Rep hold meeting
In the meeting, the US affirmed its engagement with Nepal on its efforts to foster innovation and investment through improvements in intellectual property protection and enforcement. The global economic giant also welcomed confirmation that there is no restriction on the import of US pork and poultry in the Nepali market. In a recent development, the Department of Food Technology and Quality Control (DFTQC) Nepal is set to recognize the food certificates of the National Competent Authority of USDA’s Food Safety and Inspection Service (FSIS).
The bilateral meeting also discussed the importance of fully utilizing US preferential trade benefits for select products from Nepal, available through December 31, 2025 as a result of the Trade Facilitation and Trade Enforcement Act of 2015. The US also expressed its willingness to provide further technical assistance to Nepal to increase trade and investment.
TIFA entered into force on April 15, 2011. It has targeted expansion of trade, investment and technical cooperation, and strengthening economic relations between the global economic giant and the landlocked country.
The TIFA meeting this time was co-chaired by Christopher Wilson, Assistant United States Trade Representative for South and Central Asia, and Baikuntha Aryal, Secretary of Commerce and Supplies, Ministry of Industry, Commerce, and Supplies, Government of Nepal.
