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Nicaragua garment industry prepares plan B

Tuesday, August 19, 2014

Nicaragua's garment industry is preparing for an eventual cancellation of Tariff Preference Levels, TPL.

The country's government, along with the Nicaraguan textile industry association, Anitec, met to discuss ways of avoiding the negative impact of a cancellation of the TPL system.

The benefits of the TPL system will end on December 31 this year, and the possibility of the U.S. not extending it has caused alarm in Nicaragua, as the garment industry would lose some 30,000 jobs and production costs would rise by 35 or 40 percent.

Source (in Spanish): El Nuevo Diario