This commitment was announced at a roundtable meeting with senior representatives of AAFA this week, where US apparel brands and retailers will open up new economic opportunities in Central America, especially in Central America-Central America-Central America in El Salvador, Guatemala and Honduras. We talked about how we can support you. US Free Trade Agreement (CAFTA-DR).
The roundtable was co-chaired by US Deputy Trade Representatives Sarah Bianchi and James White. Michael Pile, Vice President’s Chief Economic Advisor, also participated.
The United States Trade Representative (USTR) office is working with the American Apparel and Footwear Association (AAFA) and other stakeholders to promote and enhance more resupply and nearshoring of apparel production. Expressed a commitment to do what you do. North American supply chain for textiles and apparel.
Participants discussed recent changes in global sourcing of apparel and related opportunities to expand sourcing of apparel to the US market from the Western Hemisphere, including Central America.
Senior executives from AAFA member companies share ideas on how US trade policy can encourage investment in US textiles and apparel and encourage the production of larger and more diverse apparel products in the CAFTA-DR region. bottom.
Ambassador White and Ambassador Bianchi emphasized the importance of the Agreement’s Rule of Origin (RoO) in promoting investment in textile production in both Central America and the United States and supporting manufacturing jobs.
The roundtable has gained importance as AAFA represents more than 1,000 world-renowned brands, retailers, and manufacturers and contributes more than $ 350 billion in annual retail sales in the United States. increase. Their decision to promote nearshoring impacts the manufacture and export of apparel in traditional supplier countries / regions.
US apparel imports from Honduras, El Salvador and Guatemala increased by 56.27%, 54.97% and 38.68% from January to September 2021, respectively, according to data from the Textile and Apparel Authority (OTEXA). ). Together, these countries accounted for a 7.73 percent share of all US apparel imports during the period. Including Mexico, another neighbor of the United States, its share rises to 11.28%. That’s $ 6.68 billion of the US imports of more than $ 58 billion in clothing.
Fiber2Fashion News Desk (RKS)
USTR and AAFA promote nearshoring in apparel production
Source link USTR and AAFA promote nearshoring in apparel production