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FTAs to boost Peruvian apparel exports this year
27
Feb '12
The apparel exports from Peru are likely to grow this year to US$ 1.8 billion, a 23 percent rise compared to garment exports of US$ 1.423 billion achieved in 2011.

Of this, around US$ 800 million to US$ 900 million worth of clothing items are estimated to be exported to countries in the Central American region, according to Carlos Durand, President of the Chamber of Commerce of Lima (CCL).

Mr. Durand was speaking at 'Speed Fashion 2012', an event organized by CCL in association with the Ministry of Production, to enable garment manufacturers and representatives of retail stores to discuss various issues affecting their business and to identify new opportunities for mutual benefit.

He said the free trade agreements (FTAs) signed by Peru with Central American countries like Mexico, Panama, Guatemala and Costa Rica will boost Peruvian apparel exports to these countries.

He added that Peru's small and medium enterprises have an excellent opportunity to promote their products in the region.

The demand for Peruvian apparels in foreign countries, especially those made from Pima and Tangüis cotton, is increasing due to their product quality and design, he mentioned.

Currently, Peru imports more garments than it exports, and in 2011, it imported 244 million clothing items against its exports of 194 million.

Ironically, the average price of apparels imported by Peru is US$ 1.6 per piece, which is much lower than the average price of US$ 3.9 per garment exported by Peru.

Fibre2fashion News Desk - India

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