PPAI Joins International Call For Action On COVID-19 Crisis, Economic Fallout
PPAI has joined with the American Apparel & Footwear Association and 64 industry groups from around the world in a call to governments and international financial institutions to enact coordinated efforts to address the economic crisis caused by the COVID-19 pandemic. The groups participating in the call represent companies, workers and consumers in every part of the global supply chains for the textile, apparel, footwear, travel goods and fashion industries.
The statement, which was sent to the White House and U.S. Congress, says, “This health crisis has triggered a potentially deadly economic crisis. As businesses have closed, revenues and cash flow have dried up. The resulting liquidity squeeze has adversely hit many companies, their workers and multiple layers of suppliers all around the world. Contracts are being cancelled, workers are being furloughed, and factories and businesses are being closed. With each passing day, this damage is compounding and harming more and more stakeholders. We need to coordinate and accelerate our efforts to limit and mitigate this damage and make sure it is not irrevocable. As we continue to dedicate our efforts to fight this pandemic, we must also come together to fight the economic crisis that has also been created.”
The calls for governments, with the support of international financial institutions, are to enact temporary stimulus measures to ensure liquidity; for governments to undertake temporary duty deferral and tariff relief to support liquidity and cash flow, and keep workers employed; and for governments to refrain from imposing new trade restrictions and not impede production or delivery of PPE, its intermediate products and raw materials. It also asks supply chain partners to do their part to minimize disruptions, facilitate payment for work that has been undertaken, and ensure workers continue to be treated with full respect while guaranteeing their health and safety.
“These actions in the next 90 days will not only help dictate how fast we can recover, but also will say a lot about who we are as an industry and as a people,” the statement adds. “Our industry literally touches everybody on the planet and we have an ongoing commitment—to our workers and consumers—to ensure that the industry that emerges from this crisis is responsible, sustainable, viable and healthy.”
For the full statement, click here.