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Textile, apparel industry ready for new challenges |
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2004-7-12
THE local textile and apparel industry is all set to face the new challenges of liberalisation come January next year.
Among the challenges are the removal of the quota system, free trade agreements within the World Trade Organisation and Asean Free Trade Area and the rapid advancement of information and communication technology.
Malaysian Textile Manufacturers Association (MTMA) president Datuk Y H Tan said in a statement that with the increasing world consumption, especially in the emerging economies, the textile and apparel industry was expected to grow and prosper.
He said with the removal of quotas, Malaysian exporters would gain easier access to other markets, provided they operated with a high degree of competitiveness.
The local market, on the other hand, would become more competitive with more foreign players'' participation, he added.
Malaysian companies should migrate from being original equipment manufacturers to original design manufacturers and go further to become original brand manufacturers, Tan said.
He said to be a global player, companies must look into areas where they would have a competitive edge in terms of new products, services and markets.
The textile and apparel industry in 2003 ranked among the top five export earners with total of RM8.5 billion Bernama .
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