Textile industry is affected by tariff surcharges

The national textile sector would be affected by higher prices of certain machinery, inputs and raw materials, with the entry into force of tariff surcharges, indicated yesterday union representatives and suppliers, manufacturers, distributors and marketers of fabrics in the framework of theV Xpotex Fair.

Jofre Izurieta, President of the textile sector, said that the rising cost of yarns and fabrics that were charged a tariff of 5% is affecting his union.He also commented that the clothing domestic industry could suffer a rise in prices of 2% and 3%.

He added that there are several products like jeans buttons, digitizing tables and scaling systems that have been considered as computerinstruments, with a 45% tariff increase.

Minister of Industries Ramiro Gonzalez yesterday justified the application of surcharges, noting that in the same way that other countries have devalued their currencies before the dollar’s appreciation, Ecuador by not having its own currency had to apply this “mirror measure” to protect the country’s economy. However, he admitted that “there has been some error but in good faith.”