DTI hails filing of Save Act

MANILA, Philippines - The Department of Trade and Industry (DTI) hailed the filing of the Save the Industries Act before the US Senate because it is a step in the right direction towards the revival of the Philippine garments industry.

The principal sponsors of the bill are Sen. Daniel 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.

“This great development is a big step towards achieving our goal to invigorate the garments industry,” Trade Secretary Gregory L. Domingo said.

In an interview over the weekend, Trade Undersecretary and Board of Investments (BOI) managing head Cristino L. Panlilio said they have been working on this bill since last year and the filing of the bill bodes well for the country’s garments industry.

“I hail the filing of this bill. This is something we have worked hard for since last year. The Department of Foreign Affairs led by Sec Albert del rosario and our new Ambassador to the US Jose Cuisia have also adopted the save act,” Panlilio said.

However, Panlilio said that the filing only signals the beginning of the quest for the passage of the bill.

“This is a major step but the work is not over. We must work harder now to convince more senators and congressmen to support this bill,” Panlilio said. “We are calling on all Filipinos here who have relatives in the US to please inform them about the Save Act. They can do their own share in getting in touch with their senators and congressmen.”

The government will be sending a contingent to the US soon led by Congressman Manny Pacquio to help rally more support for the bill.

The Save Act will allow the duty free exportation of Philippine made garments which used American materials to the US.

“This is a landmark piece of legislation that will redound to great benefits for both our people. It will revive the Philippines’ garment industry that has been in the doldrums ever since the end of the quota regime and at the same time increase imports of US textile and export from the Philippines and other ASEAN countries of up to $3 billion in the next three years. This is definitely a win win solution,” Panlilio said.

According to Panlilio, in spite of the history shared between the Philippines and the US, there is no bilateral trade agreement that will help expand the trade between the two countries.

Panlilio underscored that the trade agreement can create 450,000 new jobs in the near future.