A meeting is being convened for the textile and clothing industry on March 16 in El Salvador, where the overall situation in the sector will be discussed.
From a statement issued by Proesa:
El Salvador is preparing for the third edition of the Forum of Textiles and Apparel (FOROTEX) 2016, a space where high-level international speakers present trends and strategies for competing in international markets.
A group of U.S. investors is suing the state for $70 million alleging violation of DR-CAFTA preventing the development of real estate project Las Olas in Puntarenas.
The lawsuit filed with the International Centre for Settlement of Investment Disputes (ICSID) by a group of investors led by David Richard Aven notes that "... national authorities treated them unfairly, in relation to a real estate development project in the Esterillos beach area in the Central Pacific. They also claim that the Free Trade Agreement (FTA) with their country was violated. "
The U.S. government is insisting that the purchase of seeds planned by the Salvadoran government should be made using an international tender, adhering to the provisions of the trade agreement.
The United States is claiming that the last purchase of seeds made by the Salvadoran government occurred through a decree and not a competition, leaving out U.S.
A short-term plan is being prepared to improve the investment climate and lift objections from U.S. Congress to fund the delivery of the Millennium Challenge Corporation
The information was confirmed by the U.S. ambassador to El Salvador, Mari Carmen Aponte. Both governments are working on concrete actions in the short term to allow for these improvements.
After three years of ratifying the agreement, investments from the United States have increased by 22%.
According to the American Guatemalan Chamber of Commerce (AmCham) the signing of the Free Trade Agreement between the United States, Central America, and the Dominican Republic has generated an increase in investment, mainly in the call center industry.
In 2008, exports to C.A. increased 21.3%, reaching $6.4 billion. Exports to the United States reached $2.2 billion.
La Prensa Gráfica publishes on its website: "Minister Esmahan emphasized, furthermore, that during the period of CAFTA, businesses that export to the United States have grown from 377 to 412, while the number of products has increased from 720 to 932, which is a demonstration of the entrepreneurial vision and of the dynamism of Salvadorian businesspeople in exploring the market of the United States.
To be held in Santo Domingo, Dominican Republic, on March 18, 2009, with the theme "Responding to the global economic crisis".
After years of stable economic performance, the Dominican Republic will face difficult external conditions as a result of the US financial crisis and global economic downturn. Inflows of foreign direct investment and tourism arrivals could well decline.
Despite the impending elimination of tariffs on foreign brands, its dominance of the local market will continue.
The Lindo Morales brothers formed the Florida Ice and Farm Company in September 1908, not even they imagine that the company would take off like eagle and gain almost "imperial" like dominance of the Costa Rican beer market.
El Salvador's American Chamber of Commerce and the Latin American Illinois Trade and Investment Office told Salvadoran business people that the US Mid-West, with its 59 million inhabitants, represents a major business opportunity.
The message was delivered at a business conference by Marcelino García, deputy head of the Illinois state trade and investment department.
The textile and clothing industry in El Salvador grew by 15 percent so far this year, according to Central Bank Reserve.
The sector provides value-added elements like speed, quality and superior design, it sald.
For the fourth consecutive month, exports in the sector grew by 15 percent, and by the end of April exports totaled 615.9 million dollars, the bank reported.
Applying the "country of origin" clause, clothing made in Central America from Mexican textiles will not be subject to U.S. import duties.
The measure, negotiated in 2003, allows U.S. imports of up to 100 million cubic meters per year of clothing made in Central America with Mexican textiles, under the country of origin clause.
Of the 100 million cubic meters, 45 million can be pants and skirts made of cotton or synthetic materials, 20 million of blue denim, a million woolen jackets, suits and skirts, and 34 million garments classified as "other."
Accesorios Textiles S.A. invested 1.5 million dollars to provide labos to manufacturers of garments sold in the United States under the free trade agreement.
This Guatemala company is an example of the multiplier effect of free trade. Since the middle of 2006, when the agreement went into effect, it has invested more than 1.5 million dollars to buy machinery, expand facilities, and hire personnel to diversify its production.
The opening of Costa Rica's insurance market has been delayed – possibly by a month - by an error in the bill passed by the Legislative Assembly.
The Constitutional Court, which has to approve the measure, says the minutes of a session of the assembly's special insurance commission are missing from the file that the court was given.
Costa Rica's cellphone market was officially opened to competition, and multinationals are lining up to go into battle with the Costa Rican Electricity Institute (ICE) which has held a monopoly so far.
The multinationals see potential for growth in the high traffic, unsatisfied demand and absence of a pre-paid system. Besides, Costa Rica is the missing link in Central American cellphone coverage; the multinationals are present in every other country.
Congress yesterday approved in a first hearing the General Telecommunications Law, which opens the way to competition as part of the implementation of the free-trade agreement with the United States, Agencia EFE reports.
The bill was approved, by 39 votes to 13, with 52 of 57 congress members present. The second and last hearing will follow in the next few days.