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Abstract:
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In an age of rapid globalization, the worldwide textile and apparel industry has
encountered a large variety of challenges, as well as opportunities. The United
States textile and apparel industry has faced significant challenges as the volume of
imports into the region has increased. In an attempt to maintain the viability of the
U.S. textile industry, as well as to foster development in other global regions, the
U.S. Government has entered into several trade agreements, extending preferential
treatment and allowing quota-free and duty-free access on select products into the
U.S. Market (Rees & Hathcote, 2004). The goal of this research is to identify the
opportunities presented to the US textile and apparel industry based on select
provisions and benefits provided by DR-CAFTA. This study will include the creation
of a database and examination of the six DR-CAFTA countries. More specifically,
this research will identify opportunities for US textile firms to manufacture or partner
within DR-CAFTA countries, and identify opportunities for US textile firms to market
products (yarn/fabric) to DR-CAFTA firms. Possible opportunities for U.S. textile
firms are identified in terms of: speed, cost savings, time, money, and preferential
tariffs.
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