Political Quotes

“I rise today to introduce the Nepal Trade Preferences Act. This legislation is simple and straightforward. It grants duty-free status to imports of Nepalese garments for a seven year period. As a friend of Nepal and the Nepalese people for over 25 years, I believe this bill will promote economic prosperity and lasting political stability in one of the world's poorest countries. Nepal has a per capita income of $540. Approximately 25 percent of the Nepal's 24 million people live in poverty. The unemployment rate in Nepal stands at a staggering 47 percent; and most Nepalese live on $3 a day. Nepal's poverty was also compounded by a devastating, 10-year Maoist insurgency which resulted in the deaths of 13,000 people. Thankfully, on November 21, 2006 Nepal's government and Maoist rebels signed a peace accord. Two years later, Nepal became a republic and a Constituent Assembly was elected to draft a new constitution. Unfortunately, this momentum has stalled and Nepal remains without a new constitution. Challenges persist for Nepal's economy. In 2005, in accordance with an international agreement, all quotas on garment imports were removed. This has had a devastating impact on Nepal's garment industry as U.S. importers have shifted their orders to China, India and other suppliers with cheaper labor markets. The number of people employed by the Nepalese garment industry dropped from over 100,000 people--half of them women to between 5,000 and 10,000.…”