Home / Knowledge / News / Apparel/Garments / Investors conference holds hope for apparel sector
Investors conference holds hope for apparel sector
02
Oct '09
The Inter-American Development Bank has organised one of the biggest investors conference ever held in Haiti and which was attended by representatives from iconic brands like Gap, Levis, American Eagle Outfitters and a host of other North and Latin American apparel retailers.

The Prime Minister of Haiti, Michele Pierre-Louis, who gave the opening address and welcomed the hundreds of potential investors said, “At the government, we are doing our share and now we turn to you and ask you to do yours, but time is of the essence."

Bill Clinton, the former President of the United States, who was also appointed as a special UN envoy to Haiti, said, “Representatives of the World Bank's Multilateral Investment Guarantee Agency, which offers political-risk guarantees to investors, are attending the meeting”.

He added by saying "That should be an encouraging sign, although I can tell you that, your political risk in Haiti is lower than it has been in my lifetime". Pierre-Louis also spoke about the improving security atmosphere in her country.

The focus of the conference mainly rested on agriculture and textiles and was held on a day when the government raised the minimum wage for textile and workers from other industrial sectors from US $1.75 per day to $3.10, per day.

Georges Sassine, President of Haiti's Industrial Association, said there was a great amount of interest in low-cost Haiti from Latin American garment companies and they are looking at setting up textile mills and factories.

The clothing manufacturing sector in Haiti at its peak in the 1980's used to employ around 130,000 people, but has fallen to a few thousands in recent years. Hopes of a turnaround have revived with the passage of the HOPE II act in the US Congress.

The Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE II) Act allows textile and apparel products, entry in the US markets, duty-free in unlimited quantities if they are cut and sewn in Haiti regardless of where the fabric originated.

Fibre2fashion News Desk - India

Must ReadView All

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Apparel/Garments | On 16th Jan 2017

EC proposes enhanced market access for Sri Lanka

The European Commission (EC) has proposed that a significant part of...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search