Emphasize brand building for better exports – experts
September 09, 2008 - Hong Kong
Experts have predicted that European textile and clothes importers will continue to shift their orders to Asian countries including China Mainland, Vietnam and other such nations, even after the end of 2008.
These countries will, thus, give tough competition to countries like Turkey and some other regions in the EU.
Nations like Turkey and Italy will try to bag orders by boasting advantages like being adjoined to EU and having minimal export tariffs. These countries will especially try to penetrate markets for chic, high-end and fashion fabrics.
Recognizing all the above countries as potential competitors, Hong Kong has started to draft its action plan.
Reportedly, Hong Kong textile and clothing export enterprises have decided to carefully abide by all the European trade restrictions. They will also pay attention to quality standards.
This will help them build a strong reputation among importers on an international level.
Experts have advised that companies should create brands and invest to take them to a global level. Brand recognition and reputation is one of the biggest tools for attracting big orders.
Industry insiders further reveled that several firms are planning to set up production bases in neighboring countries other than China Mainland.
Analysts stressed that since trade frictions in the US and EU are growing, enterprises must focus on the huge market of China Mainland.