Home / Knowledge / News / Textiles / Uruguay to introduce subsidies to support textile sector
Uruguay to introduce subsidies to support textile sector
16
Mar '12
The Government of Uruguay has announced that it would introduce subsidies to help the country's textile and apparel sector, which has been affected due to the restrictions imposed by the Argentine Government on import of goods, including the introduction of the implementation of the non-automatic licensing system.

Fernando Lorenzo, Uruguay's Minister of Economy, said the Government plans to introduce 14 different measures, which include providing US$ 5 million in annual subsidies to help the country's textile and clothing sector.

The Minister said the Government's strategy is aimed at lessening the negative impact of the new measures introduced by Argentina, on workers and companies.

The Government will offer insurance cover to Uruguayan textile and apparel companies against the reduction in the employees' working hours, which may affect the production levels.

The Jose Mujica administration is also planning to increase the import tax on apparel items from the existing 8 percent to 15 percent.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: The White House

Textiles | On 21st May 2018

China, US put trade war on hold

Following weeks of uncertainty over imposition and counter-imposition ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Larry L Kinn
Suominen Corporation

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search