Recently, U.S. president Barack Obama signed a legislation that provides Nepali products duty-free access to the American market. That is a good news for all Nepali businessmen as well as Nepali farmers. America is the global Capitol of Business. If Nepali products are able to be sold in America without duties and taxes, then there is a good opportunity for Nepal to earn some much-needed revenue. It also opens the market for Nepal to sell wares and products worldwide. This import business can really help grow the Nepali economy on the international level and expand Nepali development and wealth.
Nepal is a small, mountainous, and landlocked country that exists between India and China. Many Nepalese products go directly to India for sale. Unfortunately, India is not a very lucrative market and recently closed their border with Nepal, resulting in strained business relations. China is a big and lucrative country now, but Nepal has not developed an open border for good trade with China. Europe and America are much more lucrative platforms for Nepali products. That is why it is exciting to see Nepal and America establish better trade relations.
Furthermore, the Nepali population is growing larger and larger each day in the United States. Many Nepalis have come here after the 2015 earthquake to start fresh. Many are refugees. Having a marker for Nepali goods can help these people acclimate to their new society by having little pieces of home to cherish here in the US. The large Nepali immigrant population guarantees a healthy demand for Nepali products in the US market, as well.
Largely the Nepali economy depends on agriculture. In Nepal there are many big agriculture farms. According to the World Bank, Nepal's main source of revenue is from agriculture, and products such as coffee, wool, Pashmina, leather, spices, paper products, wheat, millet, and barley. In the 1980s, more than 90% people worked in the field of agriculture in Nepal. Still, there is a large lack of market for farmers, particularly after the Indian border closing, which blocked agricultural trade that formerly supported much of the Nepali economy. Farmers now often live in poverty.
Expanding this agricultural market would help many people in Nepal live better lives. Americans can help by buying Nepali imports, such as coffee and wheat and woolen products. By purchasing imports from Nepal, Americans can help Nepali people make the money they no longer can with the border with India closed, and they can help Nepali people buy much-needed supplies and recover from the earthquake's devastation.
I live in Jackson Heights, New York, and I was so pleased to see small shops specializing in Nepali wares here. Some of these stores I saw include Pasmina Woolens, Himalayan Coffee, and shops for Nepalese art. I also have noticed some Nepali woolen products for sale at big name chain stores such as Macy's and J.C. Penny's. This is great because America is a big sales platform for Nepali products, especially as more and more Americans become interested in helping the Nepali economy after the earthquake in April 2015. America as a nation possesses more capital than Nepal and thus are in a position to really benefit Nepal with purchases of Nepali products. Nepalese businessmen are smart to not miss this opportunity to sell their products in the USA.
It would be wise for the government of Nepal to greatly encourage Nepali businessmen and farmers to supply their products to the US in order to make more money. The US market has the potential for a great future for Nepali products. That's why America itself called the Capitol of Business. Americans are in a position to help the poor nation of Nepal recover economically from the 2015 earthquake and the Indian border closing that has left the country destitute.