Colombian textile and clothing exports to neighbouring country Venezuela have plunged, along with which it has also failed to strike a trade deal with the United States, till date. This has prompted the country to look for alternative new global markets.
President Juan Manuel Santos' had recently remarked that, Colombia will explore new markets around the globe and will also try to sign a free-trade accord with the US in order to hike its exports.
A spokesman of the recently held Colombiamoda 2011 trade fair, while addressing a textile delegation said that, US politicians had voted in favour of the trade deal, but was held up due to the political climate in that country.
Recently Colombia has struck a free-trade deal with Canada which came in to effect from August 15. It has also struck a deal with Switzerland and deals with other European countries are on the cards.
Meanwhile Colombia is also trying to mend relations with Venezuela, which was its biggest importer of textiles, till strained political relations soured trade between the two countries.
The second biggest market of Latin America – Mexico too is on the radar of exporters. Colombian exports to Mexico reached US $117 million in 2010, up 8.8 percent from its previous year.
Clothing sales accounted for a massive 56.4 percent of that amount and also rose 6.1 percent from 2009. Exporters from the sector say there is a good potential to export denim jeans and innerwear to Mexico.
Fibre2fashion News Desk - India
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