Textiles group backs Peru, Colombia FTAs

Textiles group backs Peru, Colombia FTAs The National Council of Textile Organizations has thrown its support behind proposed free trade agreements with Peru and Colombia, noting that rules of origin clauses assure the agreements will not provide a window for countries outside the agreements.
   NCTO president Cass Johnson said the two FTAs negotiated and awaiting congressional approval will help the U.S. textile industry and its workers compete in world markets.
   The agreements include no loopholes for Asian products, she explained, as well as a strict yarn forward rule of origin. The yarn forward rule addresses the origin of yarn used in fabric. It must originate in the country to be eligible for FTA benefits.
      'At $16 billion a year in exports, the U.S. textile industry is the third largest exporter of textile products in the world. These exports depend on trade agreements like the Colombia and Peru FTAs which ensure that FTA partners, not Asian exporters, are the true beneficiaries of these agreements. As the unanimous NCTO vote indicates, the textile provisions of these agreements represent a template for future trade agreements which can garner wide industry support. When trade agreements benefit U.S. textile workers and companies, the industry will back them enthusiastically.'