The president of the Dominican Republic has warned the U.S. government about the impact the Trans- Pacific treaty in the textile sector in the region.
From a statement by the Ministry of Foreign Affairs of the Dominican Republic:
On November 27, President Danilo Medina sent a communication to the President of the United States, Barack Obama, in which it reiterated its concern expressed during the meeting held in San José, Costa Rica, in May, in connection with the negative impact which could come from the Trans- Pacific Economic Partnership Agreement (TPP) on the textile and clothing industry in the signatory countries of the DR -CAFTA and the region, if certain special concessions that could cause changes in the management and values of hemispheric trade, and on a worldwide level.
Starting August 15 the textile sector will have at its disposable new mechanisms to take greater advantage of the Free Trade Agreement with the United States.
Recent modifications to CAFTA offer new benefits to textile companies.
The first is the Textile Accumulation with Mexico and the US which will allow the private sector to produce garments with certain fabrics made in the United States and then export them to Mexico while still enjoying preferential tariffs, explained Ingrid Burgos, representative Textile Industry Chamber (Camtex).
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