From the end of the year to the end of the year, the economies of Europe and the United States still failed to escape from their fatigue. In order to alleviate the negative impact of the sharp drop in orders in these two markets, the Southeast Asian textile exporting countries have been making frequent moves. Or to put the Japanese market back on the strategic plan, as the main target for exporting textile and apparel products; or to sign trade reciprocity clauses to find the target exporting countries in the neighborhood; or to start looking for business opportunities in emerging markets from advantageous products. As orders in Europe and America have been deteriorating, textile companies in all countries have realized that the mode of waiting for orders has not been able to break the current predicament. Taking the initiative to attack, open up new export markets, and give play to the advantages of the local textile industry have become the major decompression techniques currently practiced by major textile nations.
Decompression Technique 1: Finding Confidence in the Japanese Market In March of this year, the outbreak of the Great Earthquake in Japan once weakened the confidence of various countries in the Japanese consumer market. However, after more than half a year, compared with the haze of the European and American markets, the recovery in demand after the earthquake in Japan prompted textile manufacturers to reclassify it as a major strategic market. On the other hand, the diversification strategy of the import market that Japan's textile and garment industry has been admiring recently has also given Bangladesh and Pakistan a chance to see opportunities. Kazuo Niijima, senior manager of the Japan Apparel and Accessories Industry Council, said that Japan is currently trying to reduce its dependence on a single country's products. Therefore, textile and apparel products in Southeast Asian countries are likely to be favored.
In recent months, Bangladeshi knitwear makers are embarking on the development of markets other than Europe. The recovery in the Japanese market has made them the best choice for exporters in Bangladesh. In order to expand its share in the Japanese market, Bangladesh knitwear exporters plan to visit Japan in January 2012 and participate in the large-scale textile and clothing exhibition held in Japan. The Vice President of Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) said: "In the past 15 years, Japan imported 24 billion U.S. dollars worth of textiles and clothing from the global market. Of these, 87% were imported from China, while Bangladesh only accounted for 0.6%. This year, we hope to increase our share in the Japanese market."
At the same time, the Pakistani industry, which is under pressure from energy shortages and contraction orders, also hopes to find business opportunities in Japan. However, people in the Pakistani industry point out that Japanese consumers have higher requirements for brand and quality, and they want to be in this market. As a result, the added value of the product must be improved, and the handling of work and details is also sloppy.
Decompression Technique II: Promoting Bilateral Trade Preferential Policies In addition to re-defining Japan as a strategic market, jointly promoting preferential policies for textile exports with trading partners is also a keen choice for major textile manufacturing countries. In the implementation of this market strategy, Bangladesh has become the biggest beneficiary.
In early September of this year, under the active efforts of industry decision makers in Bangladesh, the Indian government announced that it will exempt 46 tariffs on textiles imported from Bangladesh. Specific products include shorts, shirts, turtleneck, skirts, children's clothing, cotton pajamas, jeans, swimwear and sports jackets. For Bengal garment exporters, this initiative is undoubtedly a great news. Bangladesh's textiles can enter the Indian market at a more significant price advantage, and garments imported from Bangladesh are 20% cheaper than clothing produced in India. Within one month of the implementation of the policy, Bangladeshi exporters received orders totaling 90 million U.S. dollars for garments from India. The total amount of orders for the month is equivalent to Bangladesh’s clothing exports to India in the first quarter of the previous fiscal year (2011-2012).
Bangladesh Garment Manufacturers and Exporters Association pointed out that despite the lack of raw material production base, Bangladesh is more cost-competitive than India's garment industry. At present, this comparative advantage is even more prominent in woven garments and knitted garments. “In the Indian apparel market with a total market value of US$28 billion, Bangladesh’s share of products is only 0.0013%. This means that the country has a larger open market space. We can make full use of relevant preferential policies through the Indian market. The growth has come to make up for the shrinking market in Europe and the United States," said the representative of the association.
Decompression Technique III: “Retreat to Approach†Exploiting Emerging Markets Under the backdrop of the economic weakness in Europe and the United States, it has become the consensus of textile companies in various countries to explore emerging markets. With the accelerating process of regional economic integration, excavating the peripheral potential consumer market in the region has become one of the ways to ease the pressure on textile exporters.
Although the export of major markets in Europe and the United States is expected to be lowered, the Thai national textile industry is optimistic about the export of the ASEAN region. The Thai think tank Taihua Farmers Research Center recently estimated that the value of Thailand's home textiles exports to ASEAN countries will increase significantly to 70 million U.S. dollars in 2011, an increase of nearly 50% from the previous year. The center pointed out that ASEAN is becoming an important home textile export market in Thailand. In the first half of 2011, ASEAN became the second largest export market for Thailand's home textiles, with exports up 44.4% year-on-year. According to the analysis, the growth of the data mainly benefits from three factors. First, the tax relief policy of the ASEAN free trade zone enhances the cost advantage of Thai national textile products; Second, ASEAN consumers are increasingly paying attention to the consumption of home decoration; the third is the ASEAN countries. The market trade protection is more relaxed and can provide convenience for product entry. The Thai industry believes that in the current situation, it is better to use the convenience of regional integration instead of seeking a far-sighted development of the Latin American and African markets, and to take advantages of advantage products to occupy a stable opportunity in the markets of neighboring countries.
The Indian textile industry is also aware of this. In the past two years, the Indian government has implemented a series of measures to strengthen the development of new markets. Today, Bangladesh and China have become emerging export destinations for Indian textile and apparel products. High-ranking Indian textile companies stated that the deterioration in demand in the major markets not only hit India’s textile industry but also may make India lose its competitiveness in the global downturn. Siddharth Rajagopal of India's export promotion agency (Texprocil) pointed out that the internal trade in Asia is showing a growing trend and the consumption trend in these countries will become more and more prosperous. “In the current situation, the Indian textile industry needs to increase its efforts to develop new markets and diversify the export market. The first step in this process is to enter the Asian neighboring countries,†Siddharth said.
Decompression Technique 1: Finding Confidence in the Japanese Market In March of this year, the outbreak of the Great Earthquake in Japan once weakened the confidence of various countries in the Japanese consumer market. However, after more than half a year, compared with the haze of the European and American markets, the recovery in demand after the earthquake in Japan prompted textile manufacturers to reclassify it as a major strategic market. On the other hand, the diversification strategy of the import market that Japan's textile and garment industry has been admiring recently has also given Bangladesh and Pakistan a chance to see opportunities. Kazuo Niijima, senior manager of the Japan Apparel and Accessories Industry Council, said that Japan is currently trying to reduce its dependence on a single country's products. Therefore, textile and apparel products in Southeast Asian countries are likely to be favored.
In recent months, Bangladeshi knitwear makers are embarking on the development of markets other than Europe. The recovery in the Japanese market has made them the best choice for exporters in Bangladesh. In order to expand its share in the Japanese market, Bangladesh knitwear exporters plan to visit Japan in January 2012 and participate in the large-scale textile and clothing exhibition held in Japan. The Vice President of Bangladesh Knitwear Manufacturers & Exporters Association (BKMEA) said: "In the past 15 years, Japan imported 24 billion U.S. dollars worth of textiles and clothing from the global market. Of these, 87% were imported from China, while Bangladesh only accounted for 0.6%. This year, we hope to increase our share in the Japanese market."
At the same time, the Pakistani industry, which is under pressure from energy shortages and contraction orders, also hopes to find business opportunities in Japan. However, people in the Pakistani industry point out that Japanese consumers have higher requirements for brand and quality, and they want to be in this market. As a result, the added value of the product must be improved, and the handling of work and details is also sloppy.
Decompression Technique II: Promoting Bilateral Trade Preferential Policies In addition to re-defining Japan as a strategic market, jointly promoting preferential policies for textile exports with trading partners is also a keen choice for major textile manufacturing countries. In the implementation of this market strategy, Bangladesh has become the biggest beneficiary.
In early September of this year, under the active efforts of industry decision makers in Bangladesh, the Indian government announced that it will exempt 46 tariffs on textiles imported from Bangladesh. Specific products include shorts, shirts, turtleneck, skirts, children's clothing, cotton pajamas, jeans, swimwear and sports jackets. For Bengal garment exporters, this initiative is undoubtedly a great news. Bangladesh's textiles can enter the Indian market at a more significant price advantage, and garments imported from Bangladesh are 20% cheaper than clothing produced in India. Within one month of the implementation of the policy, Bangladeshi exporters received orders totaling 90 million U.S. dollars for garments from India. The total amount of orders for the month is equivalent to Bangladesh’s clothing exports to India in the first quarter of the previous fiscal year (2011-2012).
Bangladesh Garment Manufacturers and Exporters Association pointed out that despite the lack of raw material production base, Bangladesh is more cost-competitive than India's garment industry. At present, this comparative advantage is even more prominent in woven garments and knitted garments. “In the Indian apparel market with a total market value of US$28 billion, Bangladesh’s share of products is only 0.0013%. This means that the country has a larger open market space. We can make full use of relevant preferential policies through the Indian market. The growth has come to make up for the shrinking market in Europe and the United States," said the representative of the association.
Decompression Technique III: “Retreat to Approach†Exploiting Emerging Markets Under the backdrop of the economic weakness in Europe and the United States, it has become the consensus of textile companies in various countries to explore emerging markets. With the accelerating process of regional economic integration, excavating the peripheral potential consumer market in the region has become one of the ways to ease the pressure on textile exporters.
Although the export of major markets in Europe and the United States is expected to be lowered, the Thai national textile industry is optimistic about the export of the ASEAN region. The Thai think tank Taihua Farmers Research Center recently estimated that the value of Thailand's home textiles exports to ASEAN countries will increase significantly to 70 million U.S. dollars in 2011, an increase of nearly 50% from the previous year. The center pointed out that ASEAN is becoming an important home textile export market in Thailand. In the first half of 2011, ASEAN became the second largest export market for Thailand's home textiles, with exports up 44.4% year-on-year. According to the analysis, the growth of the data mainly benefits from three factors. First, the tax relief policy of the ASEAN free trade zone enhances the cost advantage of Thai national textile products; Second, ASEAN consumers are increasingly paying attention to the consumption of home decoration; the third is the ASEAN countries. The market trade protection is more relaxed and can provide convenience for product entry. The Thai industry believes that in the current situation, it is better to use the convenience of regional integration instead of seeking a far-sighted development of the Latin American and African markets, and to take advantages of advantage products to occupy a stable opportunity in the markets of neighboring countries.
The Indian textile industry is also aware of this. In the past two years, the Indian government has implemented a series of measures to strengthen the development of new markets. Today, Bangladesh and China have become emerging export destinations for Indian textile and apparel products. High-ranking Indian textile companies stated that the deterioration in demand in the major markets not only hit India’s textile industry but also may make India lose its competitiveness in the global downturn. Siddharth Rajagopal of India's export promotion agency (Texprocil) pointed out that the internal trade in Asia is showing a growing trend and the consumption trend in these countries will become more and more prosperous. “In the current situation, the Indian textile industry needs to increase its efforts to develop new markets and diversify the export market. The first step in this process is to enter the Asian neighboring countries,†Siddharth said.
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