On May 19, 2014, the American Apparel and Footwear Association (AAFA) issued a press release announcing their signing of a Memorandum of Understanding (MOU) with the Hong Kong General Chamber of Textiles Ltd. (HKGCOT).

According to the release, “The MOU articulates a number of areas of cooperation, including strengthening communications, exchanging information on trade and sourcing, sharing best practices, and promoting textile and apparel trade.  The two organizations are now working to identify specific projects, events, and areas of information exchange. “

China and Hong Kong account for approximately 42 percent of U.S. annual apparel imports, whereas the U.S. currently exports around $1.8 billion in textile and apparel goods to China and Honk Kong.

The press release can be accessed here