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Philippines reduces garment categories for SAVE Act
28 Nov '11
1 min read
In its bid to persuade the US Congress to approve the proposed Save Our Industries Act (SAVE Act), the Philippines' Government has agreed to reduce the number of garment categories that will entail zero-duty to the US market from the original 17 to nine.
At the recently concluded APEC Leaders Summit in Hawaii, three US Congressmen – Jim McDermott, Sander Levin and Kevin Brady – had suggested that the number of garment categories that would get US preferential tariff should be decreased to boost the chance of passage of the Bill, Philippines' Trade and Industry Secretary Gregory L. Domingo said.
He stated that the legislators were of the view that the garment categories seeking access to the US market with preferential tariffs be decreased from the original 17 to 9 to reduce the loss in revenues to the US from the estimated US$ 500 million to US$ 250 million.
The 8 garment categories that are removed are related to the Bill's provisions that allow sourcing of yarn and fabrics from a third country for use in the production of apparels that are to be exported to the US market at zero-duty.
At the recently concluded APEC Leaders Summit in Hawaii, three US Congressmen – Jim McDermott, Sander Levin and Kevin Brady – had suggested that the number of garment categories that would get US preferential tariff should be decreased to boost the chance of passage of the Bill, Philippines' Trade and Industry Secretary Gregory L. Domingo said.
He stated that the legislators were of the view that the garment categories seeking access to the US market with preferential tariffs be decreased from the original 17 to 9 to reduce the loss in revenues to the US from the estimated US$ 500 million to US$ 250 million.
The 8 garment categories that are removed are related to the Bill's provisions that allow sourcing of yarn and fabrics from a third country for use in the production of apparels that are to be exported to the US market at zero-duty.
Fibre2fashion News Desk - India
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