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Mexico postpones tariff reductions on apparels till 2014
Jan '13
Mexico’s Ministry of Economy has postponed the reduction of tariffs on 94 textile, clothing and footwear items for a further period of one year.
The 94 items constitute about seven percent of the total 1,339 different products under the textile, clothing and footwear category.
Some of the products that would be affected by the measure are suits, sweaters, shirts, coats, trousers, innerwear, baby wear, hosiery, dresses, swimwear and skirts.
The Ministry of Economy said the extension of tariff reductions by one year would allow domestic businesses to consolidate their plans and production models, in lines with the goals set by the Government under its industrial and commercial policy.
Overall, the apparel and footwear sector accounts for more than 10 percent of the total employment in the Mexican manufacturing industry.
The Ministry said the postponement of tariff reductions till 2014 will generate significant employment and economic development in various regions of Mexico.

Fibre2fashion News Desk - India

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