The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing activities in the country.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Robert Young, the president of Foreign Buyers Association of the Philippines (FOBAP) said the garment sector has been receiving more purchase orders from their principal buyers from the US, who stopped buying five years ago due to the recession in US, according to the statement released by Philexport.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
The orders from the buyers have doubled during the last two to three months period.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Mr. Young said the buyers have ordered for supplies, mainly in the knitted kidswear category and women’s woven sportswear.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
According to the statement, Mr. Young attributes the increase in buyers from abroad to the improving US economy and the rising labor costs in China as well as the suspended trade privileges for Bangladesh over concerns of safety issues and labor rights violations.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Mr. Young said European buyers have also expressed interest to place more orders in Philippines as the country has niche products which have huge demand overseas. Philippines’ products like abaca-woven bags and denims, and t-shirts, which are easy to stitch, have high demand in overseas markets, he added.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Earlier this month, at the Franchise Asia Philippines 2013 Expo, Sergio Ortiz-Luis, the president of Philexport said the country was highly dependent on the garments sector to meet the 10 percent target for merchandise exports in 2013.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Mr. Ortiz-Luis said in 2012, Philippines exported US$ 1.5 billion worth of apparels, and these exports would continue to grow in the current as well as next year.
The garment sector of Philippines is expecting major cash in due to the comeback of American buyers who have started increasing their outsourcing #
Fibre2fashion News Desk - India
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