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U.S. House okays trade preferences for Haiti

Posted by CaribShout on May 7, 2010 at 4:41pm

The U.S. House on Wednesday supported a bill aimed at increasing long-term investment in Haiti's textile and apparel markets. This is the latest of several moves to help the embattled nation recover from the January 12 earthquake. The bill increases the types of products that Haiti can export duty free to the United States. Expanding the trade preferences should triple its duty-free access for knits and woven fabrics and would extend the benefits through 2020 – essentially expanding a trade program which had helped in Haiti’s economic recovery prior to the earthquake. According to the bill's sponsor, Rep. Charles Rangel, D-NY, “Once the earthquake hit, it became clear that something needed to be done to help Haiti regain the footing that it had worked so hard to attain. This legislation does that.” Reaching about $513 million last year, Haiti textiles and apparel industry are the most important export to the U.S. and a boost from the House would open the possibilities of keeping the sector afloat and creating more employment for the struggling nation. Former Presidents Bill Clinton and George W. Bush praised the House action. They said in a joint statement, "This important step responds to the needs of the Haitian people for more tools to lift themselves from poverty, while standing to benefit U.S. consumers.” Haitian president Rene Préval has lauded the move, which Haitian officials have been pushing for even before the devastating earthquake which left about 230,000 dead, over one million homeless and the economy and the country in ruin. The bill is expected to move swiftly through the Senate.
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Tags: haiti, house, us, caribbean, earthquake, economy, for, okays, preferences, trade

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