Indonesia Foresees Strong Growth in Apparels

INTERNATIONAL NEWS

Indonesia Foresees Strong Growth in Apparels


November 20 , 2017



Indonesia&sdquo;s textile manufacturers have seen significant growth over the past decade and expect the industry, which produces fashion for various global brands, to be a major contributor to the country&sdquo;s economic growth. The country now boasts a textile and apparel export volume reaching close to US$12 billion and a workforce of almost two million people, which has lifted it into the world’s top ten textile and garment exporters. The government itself has set a target to increase the nation’s value of exported textile and apparel to $75 billion by the year 2030, meaning that it would reach five percent share in the global market. To achieve this target, it has issued a number of initiatives which has spurred the textile manufacturing industry, which is expecting more support from the government. Indonesia is also anticipating zero tariffs to the Australian market which is likely to happen next year and hopefully zero tariffs or a free trade agreement with EU will be signed by end of 2018.