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.
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.
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.
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.