Home / Knowledge / News / Apparel/Garments / Asian apparel exporters changing trade strategies
Asian apparel exporters changing trade strategies
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

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Rupa Sood and Sharan Apparao

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
March 2017

March 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search