Monday, April 27, 2015

New Developments On The Renewal Of The HOPE Act

Haiti - Economy : New Developments on the renewal of the HOPE Act
(Haiti Libre) - 26/04/2015 12:33:24

Haiti - Economy : New Developments on the renewal of the HOPE Act
The Association of Industries of Haiti (ADIH) congratulates the Commission on Ways and Means of the House of Representatives and the Finance Committee of the US Senate of having voted in committee on 22 and 23 April respectively, the legislative act which aims the Extension and Improvement of the "African Growth and Opportunity Act." (AGOA, H.R. 1891).

Recall that this legislation that was presented to both Houses by members of the two Democrats and Republicans parties on April 16, contains a fundamental provision, which extended the HOPE / HELP program for 5 years, until September 30 2025. It also plans to extend for a period of 7 years a key provision of the program known as the Value Rule name due to expire in 2018, until September 30, 2025 as well.

This extension will offer Haiti the certainty needed to continue on the path to success, ensure the revival of its economy and attract new investments, what will ensure the Haitian apparel industry a continuous growth. A sector that currently employed more than 36,000 workers (75% women), which produces 90% of exports of country, or 845 million US dollars.

The House of Representatives and the Senate is planning to review legislation HOPE / HELP ((Haitian hemispheric Opportunity through Partnership for Encouragement), before the end of May. It should then be signed by the US President to become a law.

These very encouraging results are the fruit of the efforts of successive missions since May 2014 by Georges B. Sassine and Lionel Delatour, respectively Adviser and Consultant at ADIH. They were sometimes accompanied by Carl-Frédéric Madsen, President of ADIH, Norma Powell, Director General fo CFI, Marie Carmel Jean-Marie, the former Minister of Finance and several members of the textile sector, including Fritz Felchlin of "Island Apparel", Alain Villard of "Palm Apparel" and Joseph Bloomberg of the Industrial Development Company (CODEVI).

These successive efforts coordinated by the firm Sorini & Samet, represent an important step in the resolute affirmation of support for Haiti's trade relations with the United States, hoping they will lead to investment and additional employment oriented on the law in force for at least the next 10 years for a sector that provides increased to 220,000 the number of textile workers in Haiti by 2020.

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