Home / Knowledge / News / Textiles / Nicaraguan textiles may lose US tariff preferences
Nicaraguan textiles may lose US tariff preferences
Aug '13
Textile industry of Nicaragua may lose tariff preferences in the US, which are up for renewal in 2014, as s senior US official has said that such an extension of tariff preferences is not necessary.
The textile industry of Nicaragua could compete globally and maintain its position in the market with or without the trade preferences, Walter Bastian, US undersecretary of Commerce, said at a press conference in Managua.
The Preferential Tariff Regime (TPL) awarded by the US to textile companies operating in Nicaragua’s free trade zones (FTZs) expires in December, 2014.
The TPL allows duty-free export of clothing made of yarns and fabrics from third countries, to US for a maximum of 100 million square meters per year.
The Government of Nicaragua and entrepreneurs of the textile industries are calling for an extension of the TPL until 2024.
The US undersecretary said the ultimate decision is in the hands of the US administration and it has not yet announced an official final position regarding the TPL.
The Nicaraguan Association of Textiles and Apparel (Anitec) estimates that without TPL the production costs would increase by 40 percent and will affect jobs in factories that operate in a free zone.
In 2012, Nicaragua exported more than US$ 890 million in clothing, according to an official data.
Nicaragua has over 215 free zone companies employing more than 103,000 people and these companies together contributed US$ 700 million in Gross Domestic Product, in 2012.
Free zones in Nicaragua are exempt from income tax for the first 15 years of operation and also from sales tax, capital gains, and real estate, among others.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 24th Mar 2017

UK online retail sales up 15% in February 2017

Online retail sales in UK have grown by 15 per cent year-on-year in...

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Suresh Patel
Sidwin Fabric

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
March 2017

March 2017

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


Browse Our Archives


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