Honduras plans to becomes a hub for sustainable textiles in the Western Hemisphere
Honduras a small Central American country is taking significant steps towards textile:
- Contributes 0.8% of global textile exports
- Number two textile exporter in the region by value just behind Mexico, and
- Number one exporter of t-shirts to the US market.
It has newly launched ‘Honduras 2020’ with an US$3.4 billion project for the textile industry. One of four key industries the government aims to change into a more sustainable sector. The project aims to turn the country into the destination of choice for brands and retailers who want to source sustainable clothing and textiles in the Western Hemisphere.
The government is committed to improve the textile industry workers condition and also to lower its impact on the environment.
Honduras to become a sustainable sourcing hub would greatly boost its textile sector by differentiating Honduras from local competitors such as Mexico.
It is also observed that a public-private funding of US$3.4 billion will be invested in the project out of which around US$1.6 billion has been reserved for investment in new equipment and technology in the textile industry only. The rest will be spent on infrastructure and a new port, improvements in the energy sector and nationwide training and education programs as well as help with housing specifically for textile industry workers.
Major aims from this project are:
- To become the leading textile exporter in the region
- The fifth largest exporter of textile goods to the USA.
- Improve their textile exports to Europe.
- Become the 25th largest supplier to the EU countries. (Currently Honduras position is 65th & 25th spot is taken by Thailand with US$1 billion).
