US textile & apparel executives discuss trade policy at roundtable

The National Council of Textile Organisations (NCTO) in conjunction with regional textile industry associations hosted Jose Fernandez, under secretary of state for economic growth, energy and the environment, at the roundtable in Tegucigalpa, Honduras.

The under secretary’s visit with leading apparel and textile manufacturing companies in the US and across the region comes at a critical time, when the global supply chain has broken down and demand for ethical and sustainable sourcing is growing, presenting new opportunities for significant growth and expansion to the Western Hemisphere and out of Asia, NCTO said in a press release.

Textile and apparel executives with a significant stake in this co-production partnership, as a result of the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR), held a roundtable discussion highlighting the need for policies that continue to support the onshoring and nearshoring of this critical supply chain, which has spurred significant job growth and economic development in the region and the United States.

Hundreds of millions of dollars of investments have been flowing into Central America, predicated on the US-CAFTA-DR agreement and the co-production chain that facilitates $12.5 billion in two-way textile and apparel trade.

“We sincerely appreciate under secretary Fernandez’s visit and discussion with textile and apparel companies today in Honduras, which underscores the Biden administration’s commitment to this critical manufacturing sector that has formed the backbone of economic development in Central America. The U.S. textile industry has invested over $20 billion dollars in the U.S. and billions more in the hemisphere over the last decade to grow economic opportunities in the U.S. and in the region,” NCTO president and CEO Kim Glas said.

“In the midst of an ongoing global health crisis, the US and Central American co-production chain continues to make sustainable investments that strengthen supply chain resilience; creates job opportunities and investment in the US and the region; and mitigates the environmental and labour impact linked to Asian supply chains, as momentum grows for onshoring and nearshoring textile and apparel production,” Glas added.

Fibre2Fashion News Desk (RR)