Guatemalan President inaugurates Apparel Sourcing Show

22 May '13

2 min read

Guatemalan President Otto Perez Molina, accompanied by Vice President Roxana Baldetti, inaugurated the 22nd edition of the Apparel Sourcing Show in Guatemala City.

The three-day event titled ‘Apparel Sourcing Show 2013: Sourcing Closer to Home’, is the window of the apparel industry and textiles of the Central American region and it seeks to promote competitiveness and integration of the industry. The fair is intended to attract new buyers to the Central American region, especially Guatemala.

Speaking at the inauguration, President Molina said 41,635 new jobs were created in the Guatemalan economy during the first quarter of the current year, showing a 32 percent rise over 28,311 new employment opportunities created during the same period of last year.

The President said it was encouraging that a record 132,302 new jobs were created in 2012, across Guatemala.

He announced that an ‘Investment Summit’ will be held on May 30 and 31, 2013, which would be attended by about 200 entrepreneurs keen on investing in Guatemala.

He informed that foreign direct investment (FDI) increased by 20 percent year-on-year to US$ 236 million in 2012. He added that FDI is expected to rise by another 15 percent in 2013.

Apparel Souring Show, begin held from May 21-23, 2013, is likely to be visited by at least 4,000 buyers, including Guatemalans and foreigners, according to the fair’s president Antonio Malouf.

In recent years, the apparel and textile industry in Guatemala has become more dynamic and competitive, and its exports have surpassed traditional items like coffee and sugar to become the leading foreign exchange earning sector for the Central American country.

Last year, Guatemala exported 297.3 million pieces of garments valued at US$ 1.189 million.

Fibre2fashion News Desk - India

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