'Spanish Valencian textile SMEs require proper funding'

05 Dec '13

2 min read

It is necessary to ensure proper funding for small and medium enterprises (SMEs) operating in the textile sector of the Spanish autonomous community of Valencia in order to revive the textile sector in the region, said Vicente Aznar, during the General Meeting of the Association of Textile Entrepreneurs of Valencia (ATEVAL) where he was re-elected as president.

The ATEVAL president, after his re-election, thanked the general board of the association and emphasized on the importance of the Valencian textile industry which contributes around 6 percent to the total Gross Domestic Product (GDP) of the region, providing 22,000 direct jobs and exporting 60 percent of finished textile goods.

However, at the meeting, the re-elected president, pointed out that the textile sector in the region is currently facing a lot of challenges. Most of the enterprises operating in the Valencian textile industry are SMEs and they require proper financing in order to increase productivity, especially with a focus on innovation, he added.

The ATEVAL official said the textile industry in Valencia has to increase product differentiation, especially for high value-added products, invest in quality and brand image, and continuous innovation.

Mr. Aznar urged the Generalitat Valenciana (government of Valencia) to increase its commitment towards the development of the industrial sector of the region in order to increase the industrial sector’s contribution in the regional GDP from 13 percent to 20 percent.

It is important that textile companies in the region need to undergo transformation and become a knowledge-intensive industry in order to compete in international markets, he added.

The ATEVAL official also expressed the importance of reciprocity in the European market for textile imports, and the final elimination of tariff barriers, for the growth of the textile industry in Valencia.

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