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Textile hub explores uncharted waters
28
Dec '09
Textile enterprises in the town of Denizli, in order to lower the impact of the economic crisis have started exploring yet uncharted overseas markets and are now looking towards the Central Asian and Middle East markets, other than their traditional markets in the European Union.

According to an expert from the sector, the industry had slowly started reducing its dependency on the US markets since the last few years, which saved them from doom, since the US markets felt the biggest effect of the slowdown following the unfolding of the economic turmoil.

These textile companies are now targeting countries of Central Asia like Azerbaijan, Turkmenistan, Uzbekistan and many more which were provinces of the erstwhile USSR and which are immediate neighbours along with having a similar culture which will help penetrate the markets easily.

Other countries on the radar of this textile hub are Iran and Iraq with whom it shares common borders. But according to an expert, Iraq could prove to be dangerous market to explore due to the fighting going on since the last few years, but Iran could prove to be a good option, he added by saying.

The number of jobs in Denizli's textile sector declined 9.9 percent in the first 10 months of 2009, while exports declined by 22 percent over November in comparison with the same month the previous year, but a recovery seems in the offing, as companies are witnessing improvement in terms of new orders.

Fibre2fashion News Desk - India

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