The American Apparel & Footwear Association (AAFA), the NCC and the National Council of Textile Organizations (NCTO) welcomed the successful mark-up of the Export-Import Bank Reauthorization Act of 2011 by the Senate Committee on Banking, Housing, and Urban Affairs Committee.
“The successful mark up by the Senate Banking Committee is a welcome step toward strengthening the U.S. apparel industry’s supply chain throughout the Western Hemisphere,” said AAFA President and CEO Kevin M. Burke.
“By better recognizing the needs of our industry’s global supply chain, the Export — Import Bank through this reauthorization can help provide greater access to supply chain financing to address the needs of U.S. companies in a globally competitive environment and create more jobs here in the United States.
“I would like to thank Chairman Johnson (D-S.D.) and Senator Hagan (D-N.C.) for their continued leadership on this important issue.”
NCC President and CEO Mark Lange said, “The U.S. cotton industry is pleased to see an opportunity for its textile customers to expand exports of value-added products containing U.S. cotton, with the resulting benefits to our nation’s farm income and job creation.”
NCTO President Cass Johnson said, “NCTO applauds Chairman Johnson and Senator Hagan’s leadership in recognizing the opportunities that exist for U.S. job creation and investment in the Western Hemisphere.
“The textile and apparel supply chain is in critical need of liquidity in order to spur new growth, investment, and jobs in the region. This has been the missing piece that the Hemisphere sorely needs to attract new orders from brands and retailers.
“Committee approval of the Ex-Im Reauthorization bill, containing important Bank improvements for the industry takes the entire supply chain one step closer to addressing this crucial issue.”