ADITEX demands probe into flooding of Asian firms

31 Oct '13

2 min read

The Dominican Association of Textile Industries (ADITEX) has demanded that the government authorities investigate into the flooding of Asian equity firms in the local market over the past several months.

In order to defend the interests of the local textile industry, ADITEX has urged the authorities to investigate whether the foreign firms taking control of local trade undermines the genuine interests of Dominicans, David Cortes, president of ADITEX, said in a statement, Hora Cero reported.

Mr. Cortes said asked whether it is appropriate for the country that a group of foreign firms take control of trade, and whether it would have any positive impact on the nation’s treasury.

The Asian companies continue to acquire large number of stores and most of the sales points of commercial area in Dominican Republic, the press release said.

ADITEX asked the Internal Revenue Directorate, the Ministry of Labour and the Directorate General of Customs to check whether the foreign traders are complying with all laws, because there is no reason for their unusual growth.

ADITEX also asked the Government to find out what amount of benefits would the country get in terms of employment due to the coming of Asian companies.

If the trend of Asian companies acquiring large number of stores is not checked, the foreign firms would soon have control over most of the shopping outlets, the statement said.

It is also important to know how much the Asian firms bring in terms customs duties on their imports, and whether they comply with labour laws, Mr. Cortes said.

Fibre2fashion News Desk - India