Home / Knowledge / News / Textiles / Venezuelan govt signs fair prices deal with textile firms
Venezuelan govt signs fair prices deal with textile firms
Apr '14
courtesy: Venezolana de Television
courtesy: Venezolana de Television
The Government of Venezuela has signed an agreement with 17 private companies for establishment of fair prices, so that these products can be more acquired by the citizens.
The 17 signatory private companies, which are engaged in import, distribution and marketing of clothing and other household items, said the application of fair prices is necessary for balancing the economy.
During the meeting with representatives of the private companies, President Nicolas Maduro said the agreement is overwhelmingly good and practical.
The companies that have agreed to improve their sales rate by applying fair prices are Grafiti, Tijerazo, Traki, Tiendas Macuto, Centro Beco, EPK, Zara, Pull&Bear, BSK, Arcadia, Abismo, Tennis Shop, Planeta Sport, Aldo, Helly Hansen, Timberlant and Volpe.
The signing of the agreement should result in balancing the prices and break heavy profiteering, President Maduro said, and urged everyone to work together for real and permanent prosperity of the country.
The Organic Law of Fair Prices, which came into effect on January 23 this year, has been designed by a team of lawyers, and was approved by President Maduro as a tool to address the wave of speculation that occurred last year making the country’s traders sell essential products with prices up to 2,000 percent more than their real value.
The Fair Prices law sets a maximum upper limit of 30 percent on production cost to ensure fair prices.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

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

Silvia Venturini Fendi
Fendi s.r.l

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

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

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

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

January 2017

January 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