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Peruvian textile sector to gain from Transpacific agreement
01
Mar '11
Peruvian textile and clothing industry is likely to benefit from the Transpacific Partnership Agreement (TPP), as the agreement would help it to earn trade benefits by associating with new countries for sourcing raw materials.

TPP is seen to open up the way for Peru to get new suppliers, and even if it fails to crack a deal with India for importing yarns, it is certain to crack one with Vietnam or Malaysia.

India's decision of imposing a ceiling on cotton and yarn exports, has affected the supply of raw materials to some of the textile and clothing firms in Peru.

Quite contrarily, the Peruvian clothing and textile industry, which at a point in time believed that, imports from India would hurt the domestic industry, is now waiting for India to lift the ceiling imposed on cotton and yarn imports, so that it can smoothly carry on its production activities.

Fibre2fashion News Desk - India

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