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Domestic markets to provide succor from crisis - AFTEX
Apr '09
The member countries of the ASEAN Federation of Textile Industries (AFTEX) met at the 19th four-day garment and textile exhibition which opened at the HCMC International Exhibition and Convention Center on April 7, 2009.

The unanimous verdict of this ten member textile body compromising of Thailand, Indonesia, Malaysia, Vietnam, Cambodia, Singapore, Philippines, Myanmar, Laos and Brunei was that the crisis ridden garment sector would see a turnaround by the year end.

They also agreed to the fact that in the light of recessionary trends prevailing in global markets, due to which exports are falling with each passing month, the domestic markets could prove to be a succor, which have not been fully exploited till date.

They also expect the second quarter of the current year to be better than the previous quarters, since these are the months, when US buyers place good orders, but also advised enterprises to invest in technology up-gradation to become more cost competitive.

Fibre2fashion News Desk - India

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