Philippines Vice President Jejomar Binay has urged all the Filipino-Americans to extend their support and push for passage of the proposed 'Save Our Industries Act' which is pending for approval before the US Congress.
The bill when passed would lead to creation of new jobs and also attract more investments in Philippines, Mr. Binay said.
The proposed legislation aims at giving Philippine-made apparels and other items, a duty-free access in the US. It is expected to lift the Filipino apparel industry as well as the textile market of the US.
Addressing a group of Filipino-Americans in New York, Mr. Binay said that factors like severe competition from China and the end of the US quota regime, have led to a considerable cut down of jobs in Philippine's apparel producing sector. The number of people employed by the sector has reduced from 600,000 in 2003 to around 150,000 now.
Philippines' garment and textile industry started witnessing a downfall since 2005, when China started exporting its cheap goods to the US. Following this, the industry's earnings have plummeted to US$ 1.6 billion.
Mr. Binay said that the US Senate President Pro Tempore Daniel Inouye had given assurance of his support and push for early passage of the proposed bill.
Mr. Binay called on the Filipino-Americans to pledge their support for the legislation by writing to their respective congressmen and senators so as to increase trade, investment and employment opportunities in Philippines.
Fibre2fashion News Desk - India
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
