AEPC initiates step to tap newer apparel markets

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SME Times News Bureau | 06 Sep, 2012
In a bid to capture USD 11 billion apparel market of the Middle East, Apparel Export Promotion Council (AEPC) is organizing a Buyer-Seller-Meet in Tel Aviv, Israel from 5-6 September 2012.

"Israel is an important market and with the India- Israel FTA in the anvil, we are hopeful of increased trade between the two countries. AEPC for the first time is organizing a Buyer Seller Meet in Israel to capture not only the Israel apparel market but also USD 11 billion apparel market of Middle East region," said Dr A. Sakthivel, Chairman AEPC.

Israel is the only country in the world that has FTAs with both the U.S. and the EU, making it a bridge between the continents. By virtue of the North American Free Trade Area agreement (NAFTA), Israel also enjoys duty-free access to Canada and Mexico.

This agreement, together with the Israel-Mexico FTA (which became effective in the summer of 2000), allows Israel duty-free access to practically all of North America. Israel also has FTAs with Jordan, Egypt, Turkey and the Palestinian Authority.

India is significant trade partner of Israel. Though India has a trade deficit in comparison to Israel, however, prospects for trade relations are high.

Israel in terms of Apparel imports has been ranked as 31st largest importer in world with a share of 0.3 percent of total world apparel import.

India is ranked as 8th largest supplier of apparel to Israel with the share of 2 percent in 2011.

India's export in 2011 was to the tune of USD 21.6 million which had increased by 14 percent from previous year. However share of India's apparel export in Israel apparel import is less than 2 percent.

This is for the first time the Council is organizing such a huge event in the Middle East region. The Textile and Apparel Show in Israel was inaugurated on 5th September, by Secretary (Textiles), Kiran Dhingra, in Tel Aviv Exhibition Centre.

The first day of the two day show, from 5th to 6th Sep in Tel Aviv, saw over 140 buyers from leading retail chains like Delta, Fox, Co op Israel, Matimli and Crazy line, said a press statement.

Dr Yuli Tamir, President, Shenker College of Engineering & Design besides many leading fashion designers were also present on the occasion.

On the occasion a high level delegation has also been mounted with the aim of exploring areas of cooperation between Israel and Indian in the areas of Textiles and Apparel.

Taking this mission forward, Chairman AEPC signed a MoU with Israel Export and International Cooperation Institute. Ramzi Gabby, Chairman of IEICI signed on behalf of the Institute. The MoU is aimed at enhancing trade and economic relation by expanding business and cooperation in the sphere of clothing & fashion industries, innovative technologies and possible solutions for the textile industry.