Established in 2008 to help Haiti after the devastating 2010 earthquake, the Government of the United States gave Haiti something that other countries would only dream of. It is access to the US market, the biggest in the world. The HOPE Act provides for duty-free access for up to 70 million square meter equivalents (SME) of knit apparel (with some t-shirt and sweatshirt exclusions) and 70 million SMEs of woven apparel from Haiti.
There are some requirements to be qualified under the HOPE Act; however, this is an opportunity that can actually bring economic development for Haiti only if it uses it smartly
Here is a celebration to mark that the unveiling of the first stones for Caracol Industrial Park in the Northern part of Haiti in December 2011. The new 605-acre industrial park is expected to attract 65,000 jobs and was created as a result of the HOPE Act which offers duty-free access to the U.S. market. The park is estimate to cost $257 million and the major players include South Korean textile firm, Sae-A Trading Co Ltd that intends to create its own textile mill, the first ever in Haiti, with knitting and dyeing facilities. The U.S. government as well as IDB are also participating are some major investors.