U.S., Haiti Sign Deal with Korean Garment Mnfr on Industrial Park
The State Department has issued a press release announcing that the Government of Haiti, the U.S. Government, and the Inter-American Development Bank have signed an agreement with Sae-A Trading Co. Ltd., a Korean garment manufacturer, to develop a 623-acre industrial park in Haiti’s North Corridor.
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Park’s Operation Projected to Begin in First Quarter of 2012
According to the State Department, Sae-A Trading Co. Ltd. will be the anchor tenant. The North Industrial Park, which is projected to create 20,000 permanent jobs through Sae-A’s investment alone, fulfills priorities in the Government of Haiti’s National Action Plan to create centers of economic development outside of Port-au- Prince for Haiti’s future growth and to bring jobs to Haiti’s underserved regions. Park operation and manufacturing activity is projected to begin in the first quarter of 2012.
The Park is expected to grow to support 65,000 permanent jobs once it is fully developed - increasing Haitian garment industry related jobs by more than 200%. It will create Haiti’s first textile mill with knitting & dyeing.
Each Signatory Committed to Investments in Development of Park, Port Modernization
The State Department notes that each signatory has committed to investments in the development of the Park and the surrounding area, including park infrastructure, housing, waste-water treatment, port modernization and electrification.
(State says the agreement brings to fruition the Memorandum of Understanding signed in September on the margins of the United Nations General Assembly, where the parties agreed to explore the viability of a globally competitive industrial park and major manufacturing operation in Northern Haiti. In addition, the U.S. Congress’ passage of the Haiti Economic Lift Program (HELP) Act in May 2010 increased U.S. trade preferences for Haitian apparel to make Haiti more attractive to large scale manufacturing operations like Sae-A.
The value of Haitian apparel exports to the U.S. ($512 million) was approximately 10% of Haiti’s GDP in 2009, constituting approximately 90 percent of the country’s exports.)
(See ITT’s Online Archives or 11/17/10 news, 10111713, for BP summary of CBP’s memo on Haiti HELP HTS changes for apparel and made-up goods.
See ITT’s Online Archives or 05/26/10 news, 10052663, for BP summary of the President signing Haiti HELP into law.
See ITT’s Online 08/16/10 news, 10081601, for BP summary of USAID funding a Haiti apparel training center.
See ITT’s Online Archives or 05/19/10 news, 10051924, for BP summary of Haiti issuing its recovery plan for long-term recovery.)