test


Member ID:
Password: 
Stay logged in for 30 days
Forget Your Password?
close

login CCFGroup App

Industry News | Time: Dec 13 2019 9:19AM
Philippines textiles industry roadmap sees potential 45% increase in exports
 
Text size
The Philippines garment and textiles industry roadmap sees the Philippines become one of the top ten global players with annual exports growth of 45 percent should it implements some recommendations including elimination of the popular “ukay-ukay” (used imported clothing) that proliferates anywhere in the country and the utilization of natural fibers.

At the industry forum and launch of the Textile-Garments Industry Roadmap, the plan covering 2020-2029 was divided into three milestones: short-term (2020-2022), medium term (2023-2025) and long-term (2026-2029).

Under the short term milestones, the Philippines should already be among the top 20 garment exporters with annual growth of 12.3 percent in garment exports and 3-5 percent increase in textile exports.

This should be made possible with the increase in the utilization of natural and synthetic textile fiber by 5-10 percent.

Under this milestone, the government was urged to address smuggling and proliferation of “ukay-ukay” by strictly implementing RA 4653. The government must also reinstate the SGS pre-shipment inspection and to cancel business permits related to trading of used clothing.

Incentives to the industry was also pushed in the short term for the innovative product processing that promotes sustainability and green environment. Reduction of the 12 percent value added tax was also pushed.

For the short term milestone, the roadmap forecasts the Philippines to improve its world ranking in garment exports into the top 15 largest globally. It is expected to increase its garments by 21.7 percent annually and 10 percent increase in natural and synthetic textile fiber.

This milestone has called for government to address infrastructure gaps and logistical bottlenecks. It also urged for production efficiency, transportation , communication and distribution through high-quality infrastructure and logistical services.

Export market diversification must also be pursued with more bilateral free trade agreements with emerging markets to reduce dependency on the US and EU markets. Improved R & D must be pursued to come up with innovative products.

For the long-term, the roadmap said that an annual 45.8 percent annual increase in the exports of garments is attainable by 2026-2029. This milestone has foreseen the Philippines already at the top ten of the world’s biggest garment exporters.

The Philippines is already a unique, well-known affordable and great for everyday wear global brand as the industry has already upgraded to original brand manufacturer with homegrown Filipino labels.

The industry has already a textile manufacturing that could fully support garment producers offering a more diverse range of products both for the local and export market.

Source: Manila Bulletin
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Related Articles
Italy's Prato clothing production drops
Bangladesh garment exports to non-traditional market fell in
Uzbekistan takes more measures to promote textile industry
Production of setting machine in printing and dyeing units limited
Intertextile Shanghai Apparel Fabrics 2020 to help tap new
Economic operation of printing and dyeing industry in Jan-Oct 2019
Ningxia Fengyuan textile's 200,000 spindle spinning project fills
ShanghaiTex 2019: polyester machinery at a glance
Readymade garment exports to new markets fall
Intervene of Indonesian Central Bank in Nigeria's textile industry
 
Research
2020 MEG market outlook and trading risk management
2019 polyester market operation & 2020 forecast
Review and brief outlook on acrylic market
2019 state cotton reserves sales structure analysis
China PET bottle chip supply demand change and future trend
Operation and development of virgin PSF and recycled PSF
 
 

浙公网安备33010902000742号