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SAVE bill gaining increasing support from US legislators
17
Aug '11
Jose Cuisia, Philippine Ambassador to Washington, has said that the Save Our Industries Act (SAVE) bill is gaining increasing support from US legislators and there are likely chances that the US Congress may adopt the bill in the next few months.

SAVE seeks to give duty-free access to the US market, for Philippine apparels made using US fabric.

Cuisia said that he had received intimation that as soon as the pending bills on US free trade agreements with Panama, Colombia and South Korea get final consent, the Save Act bill could also be adopted by the ongoing 112th Congress as a part of a trade package.

Addressing the Filipino-American community, the Ambassador said that in order to ensure passage of the bill during the current year, it is vital that the US Congress pays attention to the call of the Filipino-Americans during coming months.

The envoy further said that no bilateral trade agreement has been entered into by the two countries for over past 40 years.

Within three to five years of its implementation, the SAVE Act is expected to boost fabric exports from the US to the Philippines from current US$ 11 million to around US$ 500 million per annum, and either generate or save around 3,000 jobs in the US textile sector.

For Philippines, the Act would revive thousands of jobs in apparel manufacturing industry, and also restore more than one billion USD worth of apparel export from Philippine to the US, which the country lost when the US lifted the apparel import quota and the subsequent demand for China made goods in the US market.

Fibre2fashion News Desk - India


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