Home / Knowledge / News / Apparel/Garments / Asian apparel exporters changing trade strategies
Asian apparel exporters changing trade strategies
09
Dec '11
Instead of sticking to their decades' old trade partnerships, apparel companies in Asia are currently changing their strategy and are focusing more on increasing regional trade as well as strengthening ties with other emerging economies, according to experts.

Troubled with the declining orders from eurozone, the Asian garment exporters are hoping that their new strategy would help them withstand the ongoing debt crisis in Western markets.

After witnessing financial crisis in the region during the late 1990s, Asian countries have put their houses in order and they now enjoy low debt levels and have adequate foreign reserves. They have also introduced more rigid corporate governance and regulatory policies, experts aver.

On the other hand there is a possibility of disintegration of the 17-nation euro area, and experts foresee exit of Greece from the single currency in 2012, which is likely to be followed by Ireland and Portugal.

The nearly two-year old financial crisis in Europe has resulted in decline in export orders from worst-hit nations like Greece, Portugal, Spain and Italy, said Siddiqur Rahman, acting President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

He informed that buyers from those countries that are grappling with financial crisis have adopted different tactics. While some have cancelled their orders, others have preferred to delay them. Still some others have reduced order prices by 5-10 percent or chosen to defer the export payment.

In such a situation, the Asian Development Bank said a strategy of strengthening intra-regional trade and financial integration, as well as increasing ties with other emerging markets would help the Asian countries ride over the current phase of decline in orders from the European markets.

China, the second-largest economy in the world, is among the Asian nations trying to boost trade with emerging economies to soften the impact of the slowdown in Europe and the US.

Wang Shouwen, Director of the Chinese Commerce Ministry's Department of Foreign Trade, opined that he expects more challenges in exports next year. However, since some developing economies currently have strong economic performance, more emphasis will be laid on exports to these nations, he added.

Some Chinese apparel companies, which were so far supplying most of their products to the European market are now changing their strategy and targeting countries like Brazil and Russia.

These companies find that the orders from Russian and Brazilian companies are increasing, while European customers are postponing or canceling their orders.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search