“In the year 2004, a 30 percent drop was recorded in the sector, but Free Trade Agreement (FTA) with the United States helped the country make up for the loss .Jamal Eddine El-Jamali, Director, Industrial Production in the Ministry of Industry and Commerce, quoted that the surge in the investments was recorded only after the Free Trade Agreement with the US .Fruit of the Loom (FOL) and Italian textile group, Legler, plan to invest US $160 million and $87 million respectively .The Spanish group, Tavex, has already invested $73.5 million in Moroccom .These three groups, together, are expected to generate about 2500 job opportunities from the textile sector .Source: Fibre2fashion.com .
Date:2/16/2006
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