TEXTILE INDUSTRY FINDS NEW AVENUE FOR PRODUCTS
At last years MAGIC Show we met with the African Apparel industry representatives and they were enthusiastic about their no-duty policy on exports such as apparel and accessories.
Well, apparently they are poised to start making inroads in manufacturing. We just read this at the Fibre2fashion News Desk in India.
"The Kenyan textile industry is eyeing massive development opportunity in the US as consumers face severe financial crisis. Because of this they are shifting to low cost zero duty imports from Africa rather than from other Asian countries.
In accordance with the African Growth and Opportunity Act (AGOA) agreement, the effects of the global economic slump have rendered African textile imports more cost competitive to US consumers.
The Kenyan textile industry is now seeing the demand for textiles from India, China and Sri Lanka move to African countries with duty-free access, and more so now with global cotton prices touching all time highs.
All of the production units are operating at optimum levels and this rise in demand may help the industry overcome the decline in textile exports over the last few years."