Home / Knowledge / News / Textiles / Exporters eye Europe to escape aftermaths of US recession
Exporters eye Europe to escape aftermaths of US recession
22
Apr '08
A gradual recession in US market is forcing workers in the export processing zone in Athi River EPZs to look for better and more profitable markets.

Demand from the American market has depicted a considerable slow down and as a result EPZ of Kenya are eyeing opportunities offered by the new interim Economic Partnership Agreement (EPA) that allows an access to the European market.

According to Kenya Apparel Manufacturers and Exporters Association (KAMEA) local manufacturers are probing diversification of their business to Europe to offset the losses incurred by trading with US.

Under the interim pact with the EU, after January 2008, Kenya and other states can continue to enjoy the duty free, quota-free market access for almost all the products except sugar and rice.

Experts believe that this will be an incredible opportunity to revive the dreary textile industry, besides, it will also attract a good amount of Foreign Direct Investment from Europe.

These investments are expected to come in form of new technology that will aim to shift the industry's focus from cotton growing to value added production.

The immense potential of Kenya's garment production can be seen from the fact that its export to the America increased from US $44 million in 2000 to $226 million in 2004 ranking the country as Africa's second largest garment exporter to US after Swaziland.

Coupled with slower demand from the US, are other critical problems like high cotton prices, lack of domestic cotton supply chain and high production costs, that have crippled the garment industry. Already four EPZ firms have closed operations and under the present circumstances, resorting to European market seems to be the only alternative for Kenyan exporters.

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search