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SAVE act stands better chance in 2013: US ambassador
04
Sep '12
Philippines-initiated legislative bill ‘Save Our Industries Act’ or SAVE Act, pending in the US Congress since 2010, has a very thin chance of passage even this year because of the impending presidential elections in November.
 
The SAVE Act bill, once cleared, would open the way for duty-free or preferential access of Philippine garments, prepared from American yarn or fabric, in the US market. 
 
Speaking at the Makati Business Club, US Ambassador to Philippines, Harry K. Thomas Jr., said that in 2013, during the tenure of the next Congress, the bill might have a better chance to of approval. 
 
He added that the proposed legislative bill had received support from the Obama administration through the endorsement of Secretary of State Hillary Clinton. 
 
Philippines will, however, continue to campaign for the legislative measure before the next US Congress if it does not get passed by the current Congress till January 2013.
 
In an attempt for the passage of the bill and abiding to the US’s demand to make the bill more acceptable to the US textile and garment industry, the Philippines Government has made several major revisions earlier, such as reducing the period covered for the duty-free garment and textile trading with the US to five years from 10 years.
 
The estimated duty waiver of around US$ 330 million per annum on the Philippine-made garment exports to the US was first reduced to US$ 230 million per annum, and was again further reduced to US$ 200 million per year.
 
Philippine Trade and Industry Undersecretary Cristino L Panlilio said that as per the ‘cut and sew’ provision of the bill they have assured the US legislators that the Philippines would only import fabrics, such as poplin, from foreign nations only if these are not being produced in the US.       
 

Fibre2fashion News Desk - India


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