The National Society of Industries (SNI) reports that it is awaiting the approval of bill 5118/2022-CR, presented by Congressman José Jerí (Somos Perú). This initiative mainly promotes productivity and boosts competitiveness for the sustainable growth of the Peruvian textile sector.
“Several months have passed and the textile and clothing industry is waiting for Congress to approve this important legislative initiative,” the statement reads.
What benefits does the standard promote?
According to the SNI, the proposal seeks to promote the productive inclusion of the entire textile and clothing chain through a mechanism that favors the generation of formal employment. In addition, it seeks to promote new investments and the reinvestment of profits in micro, small, medium and large companies.
It should be noted that there are more than three initiatives, two of them by the Executive. However, the private organization points out that Jerí’s proposal guarantees a time horizon that will provide the stability that entrepreneurs and investors need. Along these lines, it will also generate close to one million formal jobs, both direct and indirect.
Textile sector situation
In this sense, the IEES referred, using data from the Ministry of Production (Produce) and the National Institute of Statistics and Informatics (INEI), that during the first half of 2023, the two branches that make up the textile sector experienced double-digit declines. Both spinning, weaving and finishing of textile products had a decline of 11.6%, while the manufacturing of other textile products, such as the manufacture of fabrics and knitted fabric, ropes, twine and articles made with textiles, suffered losses of 12.7%.
In contrast, although the textile sector is experiencing a decline this year, and closed 2022 with a decrease of 2.7%, imports have increased. Last year alone, foreign acquisitions totaled US$ 1,722 million, which represents an increase of 10.1% compared to 2021. In detail, 53.8% originated in China (US$ 1,004 million), followed by India with a participation of 14.7%.
As for companies, imports are focused on the five main ones, which account for 10.6% of the total imported. The SNI warns that the import of textile products has increased in recent years, even in 2020, during the time of COVID-19, when the national textile industry remained closed due to quarantine measures and suffered a sharp decline.
Source: Larepublica
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