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Philippines wants Save Act passed by Sept
15
May '12
Aiming to re-secure the US$ 3 billion export level for its garment and textile industry, the Philippine Government has set itself a deadline till September this year for getting its “Save Our Industries Act” bill passed.

Once cleared, the bill would open the way for duty-free or preferential access of Philippine garments, prepared from American yarn or fabric, in the US market.

Trade and Industry Undersecretary for Trade and Investments Promotions Cristino L. Panlilio said in spite of several revisions and even after securing support from the legislators and senators, the bill is pending before the US Congress since 2010.

Abiding to the US's demand to make the bill more acceptable to the US textile and garment industry, the Philippines Government has already made several major revisions to the bill.

The duty waiver on export of Philippine-made garments to the US, which was originally estimated at US$ 330 million per annum, was first reduced to US$ 230 million per annum, and was again further reduced to US$ 200 million per year on demands of US senators.

However, Mr. Panlilio believes this time there are bright prospects for passage of the bill as it has gained strong support from both Congressmen and Senators.

He said while eight senators have already signed the bill, many others have agreed to vote in its favour. Likewise, in the Lower House also 30 Congressmen have signed the bill and many others have committed to vote for it, he added.

The September deadline has been set in view of the forthcoming US elections scheduled to take place in November, which would keep the legislators busy in campaigning post September, Mr. Panlilio said.

Fibre2fashion News Desk - India


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