Mexico : Mexico's SEDECO signs agreement to boost apparel sector

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Home / Knowledge / News / Apparel/Garments / Mexico's SEDECO signs agreement to boost apparel sector

Mexico's SEDECO signs agreement to boost apparel sector

31
Aug '13

Woldenberg (L); Lopez (R)/CANAIVE

The Secretary for Economic Development (SEDECO) of the Federal District of Mexico, Solomon Chertorivski Woldenberg and the President of the National Chamber of the Apparel Industry (CANAIVE), Sergio Lopez de la Cerda, have signed a cooperation agreement to establish a strategic alliance that fosters development and strengthen the competitiveness of Mexico’s apparel sector.

According to a statement issued by SEDECO, the Secretary said the partnership aims to launch training and education projects, as well as integration of production chains and microcredit financing mechanisms to encourage schemes that would boost the industry.

Mr. Woldenberg said that besides being a source of employment, the apparel industry is a driver of the local economy, and is becoming one of the most dynamic sectors in the country.

The garment industry accounts for 10 percent of all manufacturing output in the Mexican capital and one in five apparel companies in the country is in Mexico City, he added.

On his part, the president of CANAIVE, Sergio Lopez, acknowledged the highly sensitive work carried out by the Mexico City government.

Mr. Lopez said the apparel industry is the fifth highest value generating activity in the Federal District, with a record of more than 500,000 companies formally registered with the Mexican Social Security Institute (IMSS), which generate about 33,000 direct jobs and 100,000 indirect jobs.

The agreement would deepen the strategies to generate development schemes and programs aimed at boosting competitiveness in the apparel industry, he added.

Mr. Woldenberg also announced that work is already in progress for a fashion show that would be held in Plaza Republic in November 2013, and Mexico City would also be hosting the ‘Latin American Fashion Week’ in 2014.

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