Textile & apparel exports likely to jump in 2008

Textile and Apparel Association of Indonesia (API) released its plan for its production and export targets for the year, 2008. Although the industry has been facing various difficulties of rise in production costs and fierce competitions in the international market, the authorities were quite optimistic regarding the growth in output as well as export figures.

The API forecast that the textile and apparel exports turnover of the country will grow at 10% over the current year’s US$ 10.2 billion turnover and to maintain the status of being among the top ten exporting country of the world.

According to sources Indonesian Government is preparing to apply measures to accelerate development of the industry, including issuing incentives in term of tax for the textile and apparel industry, especially exempt import tax of cotton in the country. The country will also pay heed in order to prevent and stop smuggling of the textile and apparel productions into Indonesia from China and Taiwan.