How is Mexico’s government driving the textile sector?
Mexico’s economy has a positive influence thanks to the textile sector, which activity generates profits and thousands of job sources for Mexican people each year, the government is aware of this and it is why they are searching new ways to promote innovation, financing and a better level of competency on this sector.
“The textile sector has been a very important part of the economy, so it is excellent news to see how the Mexican government is working already to make the textile and clothing sectors to be more productive”, thinks Salomón Juan Marcos Villarreal, a Mexican entrepreneur and current president of Grupo Denim, a jeans manufacturer in this country.
Mexico’s government has announced the three main axes that will help them driving the textile sector to a different level, by supporting the quality, innovation and competitiveness; customs measures against the unfair competition and new financing products for the entrepreneurs on this sector, everything in order to make the textile sector increase in Mexico.
The government has also announced that Hidalgo will be the first benefited state.
Among the changes proposed by the government against the unfair competition, they will implement new measurements on prices for raw materials, the new sectoral register for the clothing and textile sectors and the pilot program about tariff issues.
The textile sector will also see other positive changes such as the hedging program for cotton purchasing, as well as reinforcement of the financing scheme to internationalize the textile products.
“Textile industry has suffered illegal trades that damage the established companies, so hopefully these new changes and measurements will help to disappear these illegal practices, which will benefit the textile companies, who are constantly creating more jobs which benefits the Mexican families”, added Salomon Juan Marcos Villarreal.