AAFA Applauds Congressional Passage Of Long-Pending Trade Agreements

ARLINGTON, Va. — October 12, 2011 — The American Apparel & Footwear Association (AAFA) today
applauded the passage of the long-pending free trade agreements with Colombia, Panama, and South
Korea by the U.S. Congress. Also included in a series of trade-related votes was the renewal of the
Generalized System Preferences (GSP), the Andean Trade Preferences Act (ATPA), and Trade Adjustment
Assistance (TAA). All measures now go to President Barack Obama for signature.

“Today’s congressional action reaffirms our competitiveness in the global marketplace,” said
AAFA President and CEO Kevin M. Burke. “The benefits these agreements have for more than four
million U.S. apparel and footwear workers and our consumers is quite clear. By opening these three
important markets to two-way permanent trade flows, we gain access to more than 100 million new
consumers while continuing to deliver quality and affordable product right here at home.”

“I urge President Obama to sign this market-opening legislation as soon as possible so that
we can begin the process of implementing these trade agreements,” Burke said. “The U.S. apparel and
footwear industry will continue working with the Obama Administration and Congress to ensure the
implementation process is seamless.”

Since 2002, U.S. cotton exports to Colombia have more than quintupled while U.S. yarn and
fabric exports to Colombia have doubled. Today, these exports are valued at nearly $300 million.
South Korea is currently the fourth largest market for U.S.-made finished apparel, behind Canada,
the United Kingdom, and Japan. From 2000 to 2010, U.S. apparel exports to Korea have increased five
times over.

Posted on October 18, 2011

Source: AAFA