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US Congress disapproves 'Save the Industries Act'
31
Dec '10
According to the Board of Investments (BoI), the Save the Industries Act, which intended at saving the sick garment industry of Philippines, could not pass the US Congress. Lucita P. Reyes, the Executive Director of BoI revealed that they are going to reintroduce the bill.

The bill was introduced by Congressmen Jim McDermott and Brian P. Bilbray in the month of June, last year. The bill had 10 sponsors. Senators Kit Bond and Daniel Inouye had also introduced a companion bill S. 3170.

According to the 809 component of the bill, fabrics and yarns manufactured in US but cut and entirely assembled in Philippines would be able to enter United States again without any duty. Apart from this, apparels made out from US spun yarn or extruded yarn manufactured in Philippines might enter United States again at 50 percent of the most favored nation (MFN) duty.

But US Senator Daniel Inouye almost pulled back his support when he came to know that a small faction of Filipino World War II veterans took the decision to drag the US government to court.

Fibre2fashion News Desk - India


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