WASHINGTON – Sen. Daniel Inouye has refiled in the US Senate a bill which seeks to revive the dying textile industry in the Philippines and generate some 200,000 jobs while at the same time opening up the Asian market for American textile.
The principal sponsors of the bill are Inouye, a Democrat from Hawaii, and Sen. Roy Blunt, a Republican from Missouri. Co-sponsors are Senate President Harry Reid from Nevada and Sen. Daniel Akaka from Hawaii, both Democrats.
The refiling of the bill coincided with the visit to Washington of Foreign Secretary Albert del Rosario.
Del Rosario thanked Inouye at a meeting in the Capitol on Wednesday for his leadership in reintroducing the Save Act. With the leadership of Inouye and Blunt, he said he was hopeful the 112th Congress would pass the Save Act in the near future.
“It is critical to the survival of the Philippine apparel industry, and will result in a significant increase in US textile exports to our country. It is a genuine win-win for both countries,” said Philippine Ambassador to the US Jose Cuisia.
The House version of the Save Act has a significant number of co-sponsors and is expected to be refiled soon Essentially the Save Our Industries Act allows the assembly of American textiles and yarns in the Philippines for re-export to the US at preferential or zero duty.
In addition, garments made of US spun yarn or extruded yarn formed in the Philippines, may re-enter the United States at 50 percent of the most favored nation (MFN) duty.
Industry experts said the bill would open the Asian market to US textiles expanding exports and strengthening the industry. US apparel companies would also be provided a competitive sourcing alternative for their high-end garments currently sourced elsewhere in the Asian region.
A Save Act filed in the 111th Congress last year expired because of time constraints. –Jose Katigbak, STAR Washington Bureau (The Philippine Star)
