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AAFA applauds Congressional passage of long-pending FTAs
14
Oct '11
The American Apparel & Footwear Association (AAFA) applauded the passage of the long-pending free trade agreements with Colombia, Panama, and South Korea by the U.S. Congress. Also included in a series of trade-related votes was the renewal of the Generalized System Preferences (GSP), the Andean Trade Preferences Act (ATPA), and Trade Adjustment Assistance (TAA). All measures now go to President Barack Obama for signature.

“Today's congressional action reaffirms our competitiveness in the global marketplace,” said AAFA President and CEO Kevin M. Burke. “The benefits these agreements have for more than four million U.S. apparel and footwear workers and our consumers is quite clear. By opening these three important markets to two-way permanent trade flows, we gain access to more than 100 million new consumers while continuing to deliver quality and affordable product right here at home.”

“I urge President Obama to sign this market-opening legislation as soon as possible so that we can begin the process of implementing these trade agreements,” Burke said. “The U.S. apparel and footwear industry will continue working with the Obama Administration and Congress to ensure the implementation process is seamless.”

Since 2002, U.S. cotton exports to Colombia have more than quintupled while U.S. yarn and fabric exports to Colombia have doubled. These exports are valued at nearly $300 million. South Korea is currently the fourth largest market for U.S.-made finished apparel, behind Canada, the United Kingdom, and Japan. From 2000 to 2010, U.S. apparel exports to Korea have increased five times over.

The American Apparel & Footwear Association (AAFA) is the national trade association representing apparel, footwear and other sewn products companies, and their suppliers, which compete in the global market. AAFA's mission is to promote and enhance its members' competitiveness, productivity and profitability in the global market by minimizing regulatory, commercial, political, and trade restraints.

American Apparel & Footwear Association (AAFA)

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