THE $300 million Government programme which was introduced in September 1997, to help the apparel sector modernise and cope with the challenges facing the sector will be extended at the end of the year, it was disclosed yesterday.
Jampro vice-president of production and development Venice Pottinger said the Special Assistance Programme, which should have ended in December 2000, will form part of a recently revealed modernisation of the apparel sector plan.
This new plan will help the sector take advantage of the recently enacted Caribbean Basin Trade Partnership Act, which recently saw the US Government extend preferential treatment to a range of goods exported from the region.
The JAMPRO VP was speaking at an interactive dialogue yesterday held by the Embassy of the United States, which linked Jamaica and Barbados with Kingston.
The dialogue heard Bryan Samuel, US deputy assistant secretary of State for Trade Policy & Programme, highlight the fact that the latest enhancement to access to the US market encompassed far more than textiles. He pointed to US hopes that the region would invest inwardly and look to expand into sectors other than current specialisms such as apparel.
Sigma Investments boss and Jamaica Chamber of Commerce representative Sandra Shirley highlighted the short time period the region had to capitalise on the latest initiative. Miss Shirley pointed to the eight-year extended life of the preferences, at which time international rules governing the increasingly global economy are likely to see a more level playing field, with the Caribbean having to compete equally with countries such as India and China.
However, local interest was sparked by news that the Special Assistance Programme to the apparel sector will be extended, and is likely to be welcomed by the industry as it tries to capitalise on the new opportunities.
Earlier this year the Ministry of Industry & Investment said phase two of the assistance programme had seen $30 million provided for the programme during 1998/1999 and 92 companies had applied for assistance under the various components of the programme.
About $316 million has been disbursed to the apparel sector since phase two of the Special Assistance Programme was introduced in September 1997.
