As undersecretary of international trade at the U.S. Commerce Department, Francisco Sanchez lists as one of his top priorities the implementation of President Obama’s National Export Initiative that seeks to double the amount of U.S. exports by 2015. Here, he discusses the importance of sourcing in the Western Hemisphere, the MAGIC Sourcing in the Americas Summit, and the role textile and apparel companies play in making the region a number-one platform for apparel production and market for U.S. textile exports.
How does the President’s NEI dovetail with the Sourcing in Americas Summit at MAGIC? If we focus in on the textile market, 60 percent of all textiles are exported within the Western Hemisphere, most of that going to NAFTA [North American Free Trade Agreement] and CAFTA [Central American Free Trade Agreement] countries. So this hemisphere is important to us generally and it is very important to us within the context of the textile industry. Then add to this another strategy that I believe very strongly in, which is supply chain integration within the Western Hemisphere to make us more competitive vis-à-vis other parts of the world.
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