Friday after the ratification by the House of Representatives on September 27, the Senate Finance Committee unanimously adopted the resolution to renew the Caribbean Basin Trade Partnership Act (CBTPA), a critical legislation set to expire on September 30, 2020.

The bill was introduced by U.S. Senator Rob Portman (R-OH) and the committee proceeded to passing it unanimously. The passage ofthis piece of legislation is of great importance to Haiti, as it directly impacts the garment industry, a pillar of the Haitian economy. The existence and growth of the garment economy in Haiti depends on the preferences granted under CBTPA and the additional HOPE/HELP programs.

According to the Association of Industries of Haiti (ADIH), this sector, which provided direct employment to almost 60,000 workers early this year, was already beginning to suffer from the delay in CBTPA's renewal before the coronavirus outbreak, and even more during the global pandemic, Ambassador Denis "I am incredibly grateful for Congress' commitment to economic prosperity in the Republic of Haiti and the Caribbean region. This legislalion has created roughly 55,000 jobs and generated almost $1 billion in Haitian exports."

Furthermore, CBPTA would playa crucial role in strengthening the supply chains for PPEs and textiles in response to COVID-19, making America less dependent on nations outside the Western Hemisphere. Also, with the issues regardoing China, Haiti hopes and expects to benefit from the "Near-Shoring" concept introduced by Congress. Together, we can strengthen bilateral trade relations between two of the oldest republics in the Americas.

The favorable vote for the renewal ofCBTPA came as a successful bipartisan effort. The bill has now moved to the President's desk to be signed into law.

See also :

https://www.haitilibre.com/en/news-31873-haiti-usa-the-house-of-representatives-voted-the-law-renewing-the-provisions-of-the-cbtpa.html

https://www.haitilibre.com/en/news-31797-haiti-usa-the-future-of-the-textile-assembly-industry-in-haiti-in-danger.html

https://www.icihaiti.com/en/news-29290-icihaiti-economy-towards-the-renewal-of-the-caribbean-basin-trade-partnership-act.html

https://www.icihaiti.com/en/news-28048-icihaiti-economy-haitian-delegation-of-the-private-sector-in-washington-dc.html

HL/ HaitiLibre