Last year, the Indonesian Ministry of Trade took concrete steps to support the growth of the domestic garment industry by issuing two new regulations. These regulations, Minister of Trade Regulation No. 31 of 2023 concerning Business Licensing, Advertising, Guidance, and Supervision of Business Actors in Trade through Electronic Systems, and Minister of Trade Regulation No. 36 of 2023 related to import policies and regulations, were designed to enhance protection and supervision of the domestic garment industry.
Pakistan's textiles and apparel sector is on the brink of a major crisis, with more than 50% of firms facing the imminent threat of closure in the coming weeks. The All Pakistan Textiles Mills Association (APTMA) has sounded the alarm, urging the federal government to urgently review energy rates to ensure the competitiveness of textile exports in the global market.
In a significant economic development, China's textile and clothing exports witnessed a notable decline of 8.1% in 2023, according to recent data released by the Chinese textile sub-council CCPIT-Tex.
In a significant boost to Bangladesh's export diversification efforts, the country's apparel exports to non-traditional markets saw a remarkable 20.54% year-on-year growth in 2023. According to data from the Export Promotion Bureau (EPB), exports to these destinations surged to $8.87 billion from $7.36 billion in the previous year.
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