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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Jay Ramrakhiani
Occasions Elegance Wear

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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