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Chinese pin down two markets to set up shop
Dec '09
The ASEAN-China free trade area agreement will be implemented from January 1, 2010. China's textile and clothing industries have been preparing for setting up shop in main markets of Jakarta and Surabaya in Indonesia, as reported earlier by fibre2fashion.

It is now learnt that, Chinese entrepreneurs have taken a fancy to Tanah Abang market in Central Jakarta and PasarTuri market in Surabaya, which are wholesale centres for the textile and clothing industry in the country.

President AdeSudradjat of the Indonesian Textile Association (API) said on Thursday after the meeting held by the Indonesian Chamber of Commerce, “I have even heard that Chinese entrepreneurs in the market are looking to buy a full shop floor in Tanah Abang market”.

Chinese entrepreneurs have also arranged a strategic plan. They plan to provide financial and inventory assistance or give goods on longer credit terms in a bid to penetrate the Indonesian domestic markets. AdeSudradjat said, “It seems inevitable for Chinese textile and clothing to flood into Indonesian market.”

Fibre2fashion News Desk - India

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