PSF is the annual forum for the global fashion industry. Since 2006, it has been held annually in March in Hong Kong, bringing together more than 400 senior executives from all over the world to discuss the challenges and opportunities that manufacturers, suppliers and retailers face, particularly those pertaining to the supply chain.
Michael Duck, Executive Vice President of UBM Asia Ltd and Director of Asia Pacific Leather Fair Ltd (APLF) said, “ASEAN is home to a burgeoning population of 600 million people, which is equivalent to 9% of the world's population. As a single economic bloc, it’s combined nominal GDP of USD 2 trillion ranks 9th in the world. We should definitely not underestimate this fast growing region.”
“There is no better platform than PSF - Focus on ASEAN to promote the region, its economies and the sourcing activities of its textile and apparel industries to the world,” stated Ade Sudradjat, Chairman of the Indonesia Textile Association (API) and the ASEAN Federation of Textile Industries (AFTEX). Both associations have already confirmed their support of PSF - Focus on ASEAN.
The ASEAN textile and apparel industry is building on its already robust exports of apparel to major markets, proactively integrating upstream to downstream elements of the supply chain in order to create a more vertical sourcing platform. This is according to Michael J. Blakeley, Director of the VALUE Project which is funded by the U.S. government and supports integration of key ASEAN industries. “Global brands and retailers are certainly seeking more competitive arrangements with their vendors in ASEAN and the local industry is attempting to respond,” Blakeley said.
“Existing trade arrangements with growing markets like China create additional competitive reasons to produce apparel in ASEAN. Trade preferences with the EU have allowed industries in Cambodia and Laos to grow and increase capabilities. Future trade preferences currently being discussed or negotiated could also lead to interesting opportunities for apparel produced in ASEAN,” emphasised Blakeley.
He added, “Once the ASEAN Economic Community comes into effect in 2015 and ASEAN operates as a single production base, the region will surely be more efficient and cost effective with dramatic improvements in trade facilitation.”
| On 6th May 2021
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