Home / Knowledge / News / Textiles / Turkey to invest in textile machinery sector in Indonesia
Turkey to invest in textile machinery sector in Indonesia
11
Oct '11
Turkish investors have articulated their interest in investing in Indonesia's textile machinery sector, Indonesian Industry Minister MS Hidayat said after a meeting with Turkish Industry and Technology Minister, Nihat Ergun, in Istanbul.

Mr. Hidayat said the Industry Ministries of Turkey and Indonesia have arrived at a consensus to enhance mutual cooperation in the field of industry and technology. He added that the Ministries of the two countries intend to achieve a trade turnover of five billion USD over the next five years.

Turkish industry has witnessed significant progress during the past few years and Indonesia looks forward to boost its domestic industrial growth by strengthening its trade ties with Turkey, the Minister said.

The Indonesian Minister further said it would be beneficial for Indonesia to join hands with Turkey to domestically undertake production of textile machines rather than importing them from other countries.

The Government may even introduce tax breaks for such investments, he said, and added that talks in respect of these proposed investments are likely to conclude towards close of the current month.

During early part of the current year, the Indonesian Industry Ministry embarked on a programme for reviving the textile, footwear and leather industries of the country and allocated a sum of Rp 177 billion or US$ 19.82 million to fund the same.

Under the programme, the Ministry intends to overhaul 3,000 textile machines that are more than 25 years old. Textile firms spread across Indonesia house around four million spinning, two lakh weaving and 34,000 knitting machines that are over 20 years old.

Mr. Hidayat stated that his Ministry has also requested the Turkish authorities to attend to the issue of dumping allegations made by Turkish producers against 19 Indonesian export items including cotton textiles, synthetic textiles and polyester fibres.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Christian Dior

Fashion | On 25th Apr 2017

LVMH to acquire Christian Dior Couture for €6.5bn

LVMH and Christian Dior, which holds directly and indirectly 41 per...

Apparel/Garments | On 25th Apr 2017

Walmart's Project Gigaton to help reduce emissions

Walmart has launched a sustainability platform called Project Gigaton ...

Courtesy: Arvind

Fashion | On 25th Apr 2017

The Arvind Store launches ready-to-wear brand for men

The Arvind Store has announced the launch of its own ready-to-wear...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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