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Corporate Social Responsibility
News
11.13.2006 - 03:40pm ET
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Extension Of Trade Preferences Urgently Needed To Help Developing Countries
Oxfam Calls on Congress to Quickly Pass Legislation
(CSRwire) Washington, DC--International aid and relief agency Oxfam urges the
US Congress to quickly pass trade legislation introduced by House Ways and
Means Committee Chairman Bill Thomas (D-CA) and endorsed by Ranking Member
Charles Rangel (D-NY) The bill would extend existing trade preferences
with developing countries and offer new benefits for apparel to Haiti.
Because these trade programs are critical for promoting economic growth
and poverty reduction, they must be extended immediately during the short
legislative period that remains, according to the organization.
The bill would extend by one year an expiring provision of the African
Growth & Opportunity Act that enables apparel manufacturers in
least-developed countries in Africa to use fabric from any country in the
world. This flexibility would encourage apparel companies to continue
sourcing from sub-Saharan Africa, which is vital to preserving the jobs of
thousands of workers, mainly women, who lack other economic alternatives.
"This extension is critical today to ensure that the jobs upon which
thousands of women depend for their livelihoods do not disappear
tomorrow," said Oxfam America President Raymond C. Offenheiser. "Congress
should act now to ensure that once the clock strikes at midnight on
December 31st, trade benefits that have helped promote job-creation in
developing countries do not become part of history."
The bill would also provide tax incentives to companies that invest in
sub-Saharan Africa in sectors other than extractive industries, as well as
include Haiti into the grouping of developing countries that receive
duty-free apparel benefits. In addition, the bill proposes a two-year
extension of the Generalized System of Preferences, which provides
duty-free benefits for many products to over 100 countries.
"Tax incentives to encourage companies to invest in sub-Saharan Africa are
a welcome addition to the US development strategy for Africa," said
Offenheiser. "The continuation of these preference programs would
demonstrate the commitment of Congress to provide the vital opportunity
for developing countries to use trade as a way of achieving economic
growth and poverty reduction."
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