Home / Knowledge / News / Textiles / ADITEX demands probe into flooding of Asian firms
ADITEX demands probe into flooding of Asian firms
31
Oct '13
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

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Shawn Honeycutt
Bolger & O'Hearn

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

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Paolo Ocleppo
Sandvik Hyperion

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

news category


Related Categories:
March 2017

March 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