KATHMANDU: Nepal Pashmina Industries Association has finally got Rs 2.5 million fund allocated by Trade and Export Promotion Center (TEPC) for its pashmina trademark promotion.

On August 19, an agreement between NPIA and TEPC was signed regarding support for the pashmina trademark registration abroad.

It is more than a month since TEPC Board allocated a fund of Rs 12.4 million to support the brand registration process of Nepali pashmina, but the fund was not made available to NPIA due to lack of mechanism regarding fund flow. Now, NPIA and TEPC have reached a decision over the mechanism.

“As per the agreement,

we will be getting Rs 2.5 million for trademark promotion in our first instalment while the remaining amount will

be refunded through TEPC,” said Pandey.

TEPC has decided to grant the fund in three instalments. “Now, we have agreed to

presenting the original bills

as and when we get our three instalments,” said Pandey.

NPIA has set a brand logo

of Nepali pashmina with the name, ‘Chyangra Pashmina’ for brand registration in

both international and national markets.

Nepali pashmina now is waiting for brand approval from United States, informed Pandey. Nepali pashmina recently got its brand registration confirmation letter from Japan and Norway. Earlier, Australia was the only country to give confirmation letter of brand registration. According to Pandey, due to brand promotion and registration process, improvement has been observed in the Nepali pashmina market abroad.

On yearly comparison data of handicraft goods exported during fiscal year 2007-08 and 2008-09, 18 per cent increment in the export of Pashmina product was observed with total contribution of 23 per cent in total handicraft goods exported in the year 2008-09, said FHAN.

Pashmina products worth Rs 584.26 million were exported during the fiscal year 2007-08 while export increased to Rs 686.62 million during the fiscal year 2008-09.