Shinta Indah Jaya may target Russia, Brazil for exports

07 Sep '18

2 min read

Courtesy: Shinta Indah Jaya

Shinta Indah Jaya, a leading producer of quality knitted fabrics, may target Russia and Brazil as potential growing new markets for Indonesian exports. While the growth of the apparel market is stagnating in the EU, US, and Japan, countries like China, India, Russia and Brazil are emerging as apparel retail markets, said a top official from the company.

“The current global apparel market is estimated to be $1.15 trillion, which forms nearly 1.8 per cent of the world GDP. Almost 75 per cent of this market is concentrated in EU-27, US, China and Japan. The next largest markets are Brazil, India, Russia, Canada and Australia, in descending order with a combined share of approximately 18 per cent,” said Stacey Hermijanto, CEO, PT Shinta Indah Jaya while speaking to Fibre2Fashion.

She added that among the largest markets, Australian per capita spending on apparel is the highest one with $1131. In view of the fact that the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) is soon to be finalised, Shinta Indah Jaya may benefit with improved market access into the Australian market.

“Indonesia's pursuit of bilateral trade deals (CEPA with Chile signed in Dec 2017; finalisation of CEPA with Australia expected this 2018; interest expressed to join TPP-11 in near future) would help open up new markets for businesses, further fueling export growth. This serves as a positive platform for Shinta Indah Jaya as we aim towards building a market presence globally,” stated Hermijanto. (KD)

Click here to read the complete interview.

Fibre2Fashion News Desk – India

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