The next step for Haiti: Trade
TEXT OF STORY
Kai Ryssdal: A year ago today, almost a quarter million people were killed in the Haitian earthquake. Government and society there are still trying to recover. In pure financial terms, losses were about $8 billion. That’s a lot anywhere; it’s almost inconceivable in the poorest country in the western hemisphere. But Marketplace’s Jeff Tyler reports that what Haiti needs now even more than aid might be trade.
Jeff Tyler: The economic calamity caused by the earthquake has not been quite as bad as expected.
Pamela Cox is with the World Bank.
Pamela Cox: We had originally projected that their production would fall some 8.5 percent, that the economy would contract. Now the good news is the economy contracted only 7 percent. But that’s still a contraction in a very poor country.
The World Bank and other international organizations helped to finance some public-private partnerships. Other companies have lent their expertise.
Olga Reyes is a spokesperson for Coca-Cola’s Latin Business unit.
Olga Reyes: We didn’t want to stop at shipping water, or tents or money. We wanted to do something that could help build the country back, and build it better.
Agriculture is one of the primary sources of jobs in Haiti, and mangoes are one of the main crops. Most of the fruit is sold by street vendors. But Reyes says farmers could improve their standard of living by exporting their crops.
Reyes: Our goal is to double the income of 25,000 Haitian mango farmers over five years.
Perhaps the biggest potential for Haiti’s economy lies in its garment industry. To help boost trade, the U.S. Congress relaxed quotas on Haitian garments.
Charles Reis is with the Clinton Bush Haiti Fund.
Charles Reis: Haitians will have this special advantage in exporting T-shirts and pajamas and those kinds of goods to the U.S.
That special advantage attracted a South Korean clothing maker to Haiti. Yesterday, it signed a deal expected to create 20,000 jobs. At the event, Haiti’s prime minister called the occasion the happiest day of his life. He pointed to the deal as a step towards breaking Haiti’s dependence on foreign aid.
I’m Jeff Tyler for Marketplace.
Stories You Might Like
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
