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Cotton USA Launches Its Caribbean Basin Initiative

Cotton USA LaunchesIts Caribbean Basin InitiativeMemphis-based Cotton Council International (CCI), in conjunction with Cotton Incorporated and the U.S. cotton textile industry, launched its Cotton USA Caribbean Basin Initiative (CBI) Program in Costa Rica.More than 50 high-level textile buyers from Costa Rica, the Dominican Republic, El Salvador and Honduras will meet with representatives from U.S. mills to discuss business opportunities as part of the Cotton USA Sourcing Fair in San Jose.One million bale equivalents of U.S. cotton textiles, fabrics and apparel, valued at $2 billion, were exported to these countries in 1998. The National Cotton Council (NCC), Memphis, says the CBI legislation would create demand for an additional one million bales of U.S. cotton per year over three years because of increased cotton yarn and fabric exports to this region."The Caribbean Basin region is poised for growth and holds tremendous potential as a recipient of even more exports of U.S. manufactured cotton products," said Larry Nelson, president of CCI. "In addition to a highly informative seminar, this event will allow for private meetings between local and regional buyers and U.S. companies. It is CCIs hope that this will be the first of many successful events in the region." May 2000